About AltMat
AltMat is a Retail company based in Ahmedabad (India) founded in 2019 by Shikha Shah. Agricultural waste is converted into textile fibers and yarns. It operates in the Retail, Environment, and Chemicals & Materials sectors. Its chief executive, as recorded, is Shikha Shah. Its Indian entity Altmat Private Limited reported revenue of ₹1.10 Cr. AltMat offers products and services including Yarns, Fibres, and Fabric. Its focus areas include Environment Tech, Solid Waste Management Tech, Recycling and Organic Waste Conversion.
Company details
AltMat was established in 2019 in Ahmedabad, India, within the sustainable materials sector. Agro-waste from sources like hemp, banana, and nettle is processed into textile fibers and yarns. Additional fibers are produced for applications in paper, insulation, and non-wovens. Operations emphasize resource-efficient conversion methods to support eco-friendly textile production.
- Headquarters Ahmedabad, India
- Founders Shikha Shah
- SectorsRetailEnvironment Chemicals & Materials
- Email••••••••
- Phone•••• ••••
- Website altmat.in
- Social LinkedIn Facebook Instagram
- Legal Name Altmat Private Limited
- Date of Incorporation 19 Dec, 2019
- Jurisdiction Ahmedabad, Gujarat, India
- Annual Revenue₹1.10 Cr
FY 2024 · +61% YoY
- Net Profit₹5.5 Lakh
FY 2024 · 5% margin
- EBITDA₹9.4 Lakh
FY 2024 · 9% margin
- InvestorsH&M Group
& 3 more
Associated legal entities of AltMat
AltMat operates through Altmat Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Altmat Private Limited CIN U17299GJ2019PTC111529 | Active | 19 Dec 2019 | Ahmedabad, Gujarat | ₹1.1 Cr | 4 | View details |
Products & Services of AltMat
AltMat offers a comprehensive portfolio of products and services, including Yarns, Fibres, and Fabric.
Blended yarns from natural fibers for sustainable textiles.
Natural fibers from agricultural waste for various applications.
Blended fabrics for sustainability and performance in textiles.
Funding Insights of AltMat
- Total Rounds 1
- Investors Count 4
All 1 funding rounds of AltMat with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2025 | Seed | – | – |
4 investors in total: 4 institutional.
Investors in AltMat
AltMat has secured backing from 4 investors, including institutional and venture fund investors. Prominent investors backing the company include H&M Group, Fashion For Good and Rainmatter.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Indian fund focused on fintech, health, and climate initiatives. | rainmatter.com | Bengaluru, India | ||
Venture capital financing and ecosystem support for early-stage startups globally. | 2019 | turbostart.co | ||
Brand of casual wear for men and women | 2009 | hmgroup.com | Stockholm, Sweden | |
Fashion innovation services are provided to the industry. | 2017 | fashionforgood.com | Amsterdam, Netherlands |
Investor details for AltMat
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Altmat Private Limited (AltMat)
Altmat Private Limited is the primary company behind AltMat. The board of Altmat Private Limited currently have 3 directors; the longest-serving is Payal Maliwal, appointed in 2019.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Payal Maliwal DIN 08643770 | Director | 19 Dec 2019 | 6 yrs 10 mo | Altmat Private Limited |
| Hardik Rajiv Nyati DIN 07893328 | Director | 22 May 2024 | 2 yrs 5 mo | Altmat Private Limited |
| Shikha Shah Visnubhai DIN 07923225 | CEO | 26 Sep 2024 | 2 yrs | Altmat Private Limited |
People of AltMat
1 people are tracked at AltMat (1 in leadership).
| Name | Role | Group |
|---|---|---|
| Founder & CEO | Leadership |
Complete people profiles for AltMat
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of AltMat
Figures of Altmat Private Limited, the primary company behind AltMat, for FY 2024. Revenue was ₹1.10 Cr (+61% year on year). Net profit was ₹5.5 Lakh (5% margin). EBITDA was ₹9.4 Lakh (9% margin). Revenue has grown at a compounded annual rate of +107% over three years.
- ₹1.10 CrRevenue · FY 2024 · +61% YoY
- ₹5.5 LakhNet profit · 5% margin
- ₹9.4 LakhEBITDA · 9% margin
- ₹56.8 LakhPaid-up capital
- +107%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Altmat Private Limited are on its company page.
Detailed financial statements for AltMat
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of AltMat
2 dated milestones of AltMat across 6 years, from founding to its latest funding, stage changes and deals.
- Founded AltMat is founded.
- Funding First funding round.
Top companies in Fashion & Lifestyle E-Commerce
3 companies that operate in the same segment as AltMat (Fashion & Lifestyle E-Commerce) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Eyewear is offered online for men, women, and kids. | 2010 | Gurugram, Haryana, India | USD 1.04 B | USD 939.4 M | 18,984 | |
Fashion and lifestyle products are offered via an online marketplace. | 2007 | Bengaluru, Karnataka, India | USD 123.71 M | USD 542.17 M | 1,108 | |
Gold and silver jewellery, lab-grown diamonds, and accessories are retailed. | 2019 | Bengaluru, Karnataka, India | USD 142.34 M | USD 32.66 M | 711 |
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Frequently Asked Questions about AltMat
AltMat was founded in 2019 and raised its 1st funding round 6 years after it was founded.
AltMat is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Shikha Shah is the CEO of AltMat, as recorded in our data. They have also founded this company.
The primary company behind AltMat, Altmat Private Limited, reported revenue of ₹1.10 Cr for FY 2024, up 61% year on year.
AltMat was established in 2019 in Ahmedabad, India, within the sustainable materials sector. Agro-waste from sources like hemp, banana, and nettle is processed into textile fibers and yarns. Additional fibers are produced for applications in paper, insulation, and non-wovens. Operations emphasize resource-efficient conversion methods to support eco-friendly textile production.
AltMat offers Yarns, Fibres, and Fabric.
AltMat has 4 investors. Key investors include H&M Group, Fashion For Good, Rainmatter, and Turbostart.
AltMat operates through Altmat Private Limited.
The legal entities of AltMat currently have 4 directors, including Hardik Rajiv Nyati, Payal Maliwal, Shikha Shah Visnubhai and others.