Paris-based deeptech Altrove has raised $10 million in seed funding to scale production of AI-designed, sustainable alternatives to critical materials such as rare earths.
The round was led by Alven, with participation from Bpifrance’s Digital Venture fund, Contrarian Ventures, and Emblem, bringing Altrove’s total funding to $14 million.
Existing investors include Entrepreneurs First and notable angels such as Thomas Clozel (Owkin), Julien Chaumond (Hugging Face), Thomas Plantenga (Vinted), and Michal Valko (formerly at Meta).
Founded in 2024 by Martin and Laulainen, Altrove plans to use the funding to expand its laboratories, grow its team, and scale production of AI-designed materials from grams to industrial volumes within two years.
Altrove is developing AI-predicted materials that aim to reduce reliance on imported resources and strengthen industrial sovereignty in Europe. Its proprietary platform combines artificial intelligence, automated lab synthesis, and self-learning characterisation to accelerate material discovery from years to weeks.
“Western nations cannot afford to be dependent on imports for the very materials that power electrification,” said Thibaud Martin, co-founder and CEO of Altrove.
Altrove has already reached several technical milestones, including the development of rare-earth-free and cobalt-free magnetic materials for high-performance motors and non-toxic, lead-free compounds for sensors and actuators. The company has secured more than a dozen partnerships with major players in automotive, energy, and heavy industry, with the first products expected to launch within two years.
“Our technology ensures that our AI-designed materials consume the resources we want them to consume, without dependence on other nations' resources,” said Dr Joonatan Laulainen, co-founder and CTO.
Photo by Takemaru Hirai on Unsplash
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