AltMat
AltMat is an Ahmedabad-based materials science company that transforms agricultural waste (hemp, banana, pineapple, kenaf, nettle) into natural fibers and yarns branded "Altag," supplying fashion brands, home-textile makers, and paper/packaging manufacturers via B2B sales.
- Company typePrivate
- Founded2021
- HeadquartersAhmedabad, India
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What AltMat does
AltMat is an Ahmedabad, India-based materials science company that converts agricultural waste — biomass from crops including hemp, cannabis, banana, pineapple, kenaf, and nettle — into natural fibers and yarns sold under the brand name "Altag." Founded in 2019 and operating at industrial scale since 2021, the company serves fashion brands, interior/home textile manufacturers, accessories makers, paper and packaging producers, and non-wovens/composites buyers through direct B2B sales. Its stated customer base includes unnamed Fortune 500 and global brands, accessed through a closed consortium of spinner and weaver partners.
The company's core technology is a proprietary process that transforms crop residue into natural fibers without hazardous chemicals and with minimal, treated-and-reused water, distinguishing it from conventional regenerated-cellulose routes. The product portfolio comprises Alt Yarns (the primary SKU, blended with cotton, modal, lyocell, or recycled polyester), Alt Fibers (multiple grades for textile, paper, packaging, non-woven, hygiene, and composite applications), and Alt Fabrics (made-to-order, higher MoQ). The feedstock-agnostic design enables decentralized, geography-independent sourcing across multiple agricultural regions.
Commercially, AltMat sells direct to enterprises on a quote-based, pay-as-you-go model with yarn MoQs of 1–2 tons and custom fabric orders above 3 tons. The company raised a strategic funding round in October 2025 from H&M Group, Rainmatter, Turbostart, and Fashion for Good, explicitly earmarked for growth, R&D, and global expansion. Recognition includes the Fashion for Good accelerator, India Climate Collaborative, TiE 50, the UN Climate Change Summit, and the Women Transforming India Award. Headcount is 11–50 and revenue is not disclosed.
AltMat firmographics
Firmographics- Name
- AltMat
- Legal name
- AltMat
- Website
- https://altmat.in
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- AltMat is an Ahmedabad-based materials science company that transforms agricultural waste (hemp, banana, pineapple, kenaf, nettle) into natural fibers and yarns branded "Altag," supplying fashion brands, home-textile makers, and paper/packaging manufacturers via B2B sales.
- Ownership category
- akta.pro rank
AltMat industry classification
Industry- Product category
- Sustainable Textile Materials
- NAICS
- Fiber, Yarn, and Thread Mills (31311), Fabric Mills (3132)
- SIC
- Textile Mill Products (2200)
- akta.pro primary industry
- Biobased, Compostable & Low-Impact Material Innovation (Bio-polymers/Dope Dyeing) (IMAOAMAM)
- akta.pro secondary industries
- Regenerated & Recycled Fiber Production (rPET/rNylon/Regenerated Cellulose) (IMAOAMAD), Recycled Textile Compounding & Nonwoven Reprocessing (Insulation/Felts/Geotextiles) (IMAOAMAH)
Keywords
Where AltMat is headquartered
LocationHeadquarters
- HQ city
- Ahmedabad
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
AltMat business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Yarn Sales: AltMat primarily sells yarns in different counts and blends. They offer blended Altag yarns combining natural fibres from agricultural waste with materials like cotton, modal, lyocell, and recycled polyester. MoQ is typically 1-2 tons of yarns.
- Fibre Sales: Alt Fibres sold in several grades for various applications including paper making, packaging, non-wovens, hygiene products, composites, and specialized spinning. Works with a closed group of spinners.
- Fabric Supply Chain: Working on fabric supply chains with ability to provide assistance on a case-by-case basis for higher quantities. Alt Fabrics is made to order for higher MoQs.
- Raw Materials for Paper/Packaging: Sells raw materials needed for making paper or packaging materials. Paper grade Alt Fibres suit handmade as well as machine manufacturing processes.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Yarn products with typical MoQ of 1-2 tons |
| Unit Pricing | Pay-as-you-go | Custom yarn orders for interiors, apparel, and accessories with MoQ over 3 tons |
| Unit Pricing | Pay-as-you-go | Fibre products for non-textile applications |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels10 records
AltMat product offering
Product offeringCore offering
AltMat transforms agricultural waste (biomass from crops including hemp, cannabis, banana, pineapple, kenaf, and nettle) into natural fibers and yarns branded as "Altag" or "Alt Materials." Its primary commercial offering is Alt Yarns in blended counts, supported by Alt Fibers in multiple grades for paper, packaging, non-wovens, composites and specialized spinning, and made-to-order Alt Fabrics. The company sells primarily to enterprise fashion brands, interior brands, accessories brands, and paper/packaging manufacturers through direct B2B channels.
Product overview
AltMat is an alternative materials company that builds materials of the future. The company transforms agricultural waste into natural fibers and yarns—collectively branded as 'Altag' or 'Alt Materials.' The product portfolio includes Alt Yarns (the primary offering, available in various counts and blends), Alt Fibers (available in multiple grades for paper, packaging, non-wovens, and specialized applications), and Alt Fabrics (currently in development, available made-to-order for higher quantities). The company primarily sells yarns, with an extensive network for fabrics and process-specific requirements. Their state-of-the-art production infrastructure was established in 2021 for industrial-scale production.
Differentiator
Problem solved
Functional benefit
Brands
- Altag: Alt Materials - high performing natural fibers and yarns made from agricultural waste, embodying holistic sustainability, inclusivity, and performance. Products include Alt Yarns, Alt Fibers, and Alt Fabrics.
- Alt Materials
Products and services
- Alt Yarns Blended Altag yarns made by combining Alt natural fibers (from food-crop waste such as hemp oil seed plant waste) with cotton, modal, lyocell, or recycled polyester. Sold in various counts and blends, with typical minimum order quantities of 1-2 tons, and made-to-order for custom blends and quantities over 3 tons for apparel, accessories, and home textile applications.
- Alt Fibers Natural fibers derived from agricultural waste (hemp oil seed, banana, pineapple, kenaf, nettle, etc.) available in multiple grades for applications including paper making, packaging, non-wovens, hygiene products, composites, and specialized spinning. Paper grade Alt Fibres suit both handmade and machine manufacturing processes. Supplied to a closed group of spinners and to paper/packaging manufacturers.
- Alt Fabrics Range of fabrics combining environmental sustainability, social inclusivity, and performance, woven from Alt Materials. Currently made to order for higher minimum order quantities to serve interiors, apparel, and accessories customers.
Quantifiable outcome
- Preliminary LCA numbers conducted with Fashion For Good's guidance show encouraging results
- +1 more outcomes
Companies that use AltMat
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles5 records
AltMat technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
AltMat partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- India Climate CollaborativecoreAltMat is a selected climate change solutions organisation under India Climate Collaborative, which is supported by Tata Trusts, Nandan Nilekani Foundation, MacArthur Foundation, Selco Foundation etc.
- Gujarat University Startup and Entrepreneurship Council (GUSEC)minorAltMat is part of selected startups by GUSEC - one of India's leading startup support systems.
- Jadeja Motwani FoundationminorThe founder was conferred with Rajeev Circle Fellowship by Jadeja Motwani Foundation, California, providing mentorship by Silicon Valley and linking to Silicon Valley ecosystem.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
AltMat competitors and assessment
Company assessmentDirect peers
- Bananatex (by QWSTION): Swiss company producing durable, vegan textiles from banana plant fibers (abacá). Directly comparable agricultural waste-to-textile model, also multi-feedstock adjacent and targeting fashion and accessories brands.
- Renewcell (Circulose): Swedish company producing Circulose dissolving pulp from 100% textile waste for viscose/lyocell production. Closest peer on circular fashion materials with shared customer profile (H&M Group was a key investor/customer).
- Worn Again Technologies: UK-based company recycling polyester and cotton from textiles into virgin-equivalent raw materials. Comparable circular textile materials startup with similar brand partnerships and accelerator backing.
- Ananas Anam (Piñatex): UK/Spain-based company producing Piñatex leather alternative from pineapple leaf fiber. Directly comparable single-feedstock agricultural waste-to-textile model with similar fashion brand customer base.
- Infinited Fiber Company: Finnish company producing regenerated cellulose fibers (Infinna) from textile waste and agricultural sources. Comparable technology platform producing virgin-like fibers from waste streams, with fashion brand customer focus.
- Spinnova: Finnish company producing sustainable textile fibers from wood and agricultural waste (wheat straw, leather waste). Most directly comparable to AltMat's waste-to-natural-fiber model, with similar B2B go-to-market targeting fashion brands.
- Circular Systems: US-based company converting textile and agricultural waste into yarns and nonwovens (Texloop, Agraloop). Closest direct peer on multi-feedstock waste-to-fiber platform serving fashion brands.
Emerging players
- Bolt Threads: US-based biotech company producing alternative proteins (mycelium leather, spider silk) for fashion and beauty. Comparable alternative materials startup with similar fashion brand partnerships and sustainability positioning, but different feedstock.
Broad incumbents
- Lenzing Group: Austrian global leader in sustainable cellulosic fibers (TENCEL, LENZING ECOVERO) made from wood pulp. Established incumbent in sustainable fibers space; AltMat competes as a differentiated alternative feedstock play versus wood-based incumbents.
- Sateri: China-based world's largest viscose rayon producer with growing sustainable product lines (EcoCosy, BCI cotton blends). Major incumbent alternative fiber producer competing for the same sustainable fashion brand demand pool.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key highlights7 records
Customer concentration
AltMat social profiles
Digital presenceAltMat financial estimates
Financial estimateRevenue estimate
Valuation estimate
AltMat leadership team
Management profileNumber of profiles
Profiles2 records
AltMat funding detail
Funding detailFunding overview
Funding rounds1 record
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AltMat M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AltMat
What does AltMat do?
AltMat transforms agricultural waste (biomass from crops including hemp, cannabis, banana, pineapple, kenaf, and nettle) into natural fibers and yarns branded as "Altag" or "Alt Materials." Its primary commercial offering is Alt Yarns in blended counts, supported by Alt Fibers in multiple grades for paper, packaging, non-wovens, composites and specialized spinning, and made-to-order Alt Fabrics. The company sells primarily to enterprise fashion brands, interior brands, accessories brands, and paper/packaging manufacturers through direct B2B channels.
Is AltMat a public or private company?
AltMat is a private company. It is classified as venture growth investor backed and is currently operating.
When was AltMat founded?
AltMat was founded in 2021. It employs 11 to 50 people.
Where is AltMat based?
AltMat is headquartered in Ahmedabad, India, in the Asia region.
How does AltMat make money?
Four revenue lines are on record. Yarn Sales are the primary driver. The others are fibre Sales, fabric Supply Chain and raw Materials for Paper/Packaging.
Who are AltMat's main competitors?
Direct peers on record are Bananatex (by QWSTION), Renewcell (Circulose), Worn Again Technologies, Ananas Anam (Piñatex), Infinited Fiber Company, Spinnova and Circular Systems. Bolt Threads is listed as an emerging player. Broad incumbents are Lenzing Group and Sateri.
Does AltMat have an API?
No public API is recorded for AltMat.
What industry is AltMat in?
AltMat's product category is Sustainable Textile Materials. Its primary akta.pro industry code is IMAOAMAM, Biobased, Compostable & Low-Impact Material Innovation (Bio-polymers/Dope Dyeing), with a secondary code of IMAOAMAD, Regenerated & Recycled Fiber Production (rPET/rNylon/Regenerated Cellulose). Its NAICS code is 31311 and its SIC code is 2200.