H&M Group has joined forces with global innovation platform Fashion for Good to invest in Indian materials tech pioneer AltMat , marking a milestone in the pursuit of circular, sustainable textiles for the world’s largest apparel players.
The strategic funding round, announced in October 2025 , highlights the growing demand for next-generation fibers that can deliver high performance with significantly reduced environmental impact. From Agri-Waste to Textile Innovation AltMat’s breakthrough fiber— Altag —is a
natural cellulose material made 100% from agricultural residue such as leftover stems of food crops and is said to match the performance of conventional fibers while dramatically reducing environmental impact.
Founder Shikha Shah’s vision is to transform agricultural waste, such as hemp stalks, into textile resources, including yarns, fibres, and fabrics. The technology combines mechanical, chemical and enzymatic processes, using supply chains that begin with grassroots Indian farmers.
This combination of scientific innovation, execution, and market validation has made AltMat a great choice for leading global and Indian investors looking to accelerate sustainability in textiles and beyond.
Scale, Market Validation, and Empowering Farmers In five years, AltMat has scaled from lab to demo pilot to industrial capacity. Its cellulose-based yarns and woven fabrics can be used for home décor, clothing and accessories, or even to produce paper, and have already built a diverse value chain to prove industrial scalability…
