New Delhi, Nov. 5 -- AltM, a specialty chemicals company, has a pocketed $10.3 million (around Rs 97.4 crore) Series A cheque from new investors Rainmatter by Zerodha and Mela Ventures.

Existing investors Omnivore, Theia Ventures, Aureolis Ventures and Spectrum Impact, alongside strategic angel investors, also participated in the round.

The company has said that it will use the capital to expand its manufacturing capabilities, research and development, customer qualification programmes, and engineering and commercial teams as altM moves from pilot-scale production toward commercial manufacturing.

The Bengaluru-based company was founded in 2022 by Apoorv Garg and Yugal Raj Jain, and it develops specialty chemicals and biomaterials from agricultural residue using proprietary technologies.

Peppermint Robotics

Peppermint Robotics, a company developing autonomous cleaning robots, has raised Rs 100 crore (nearly 10.6 million) in pre-series B funding round led by Pi Ventures and Crane Venture Partners, with participation from Asiana Fund.

It will use the capital to strengthen its research and engineering capabilities, and invest in production infrastructure.

The Pune and Austin-based company builds and deploys autonomous robots for commercial floor cleaning and speciality material transportation. It was founded in 2019 out of the Society for Innovation and Entrepreneurship (SINE) at IIT Bombay. It operates in nine countries and serves customers in Asia, North America and Europe.

It is also planning to expand across US, Asia and Europe, and will use a part of the funds for its business development efforts across the US and Asia, and hire senior leadership and engineering talent.

Venomics AI

Venomics AI, a biotechnology company spun out of the Indian Institute of Science (IISc), has secured $2.7 million (around Rs 25.5 crore) in its pre-seed round. The round, which is its external fundraise, was co-led by Speciale Invest and South Park Commons, with participation from Operators Studio.

The funding will be used for the expansion of the Venom Atlas, its molecular dataset; and to strengthen its AI and laboratory screening capabilities, it said in a statement.

The company is working to discover and develop venom-derived therapeutic leads.

Published by HT Digital Content Services with permission from VC Circle.