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Venture Capital News: Allium Announces $3.25 Million Seed Round

2024-03-27
SOMERVILLE, MA, Allium Engineering, an MIT spinout, announced a $3.25 million seed funding round.
Allium Engineering, an MIT spinout, announced a $3.25 million seed funding round to expand manufacturing of a longer lasting, sustainable form of steel. The round was led by Propeller with participation from Aera VC, Greatwave Ventures, and Anthropocene Ventures. Allium plans to use the funding to produce more than a thousand tons of stainless clad rebar within the next two years and to enable the construction of longer lasting bridges and other more resilient infrastructure across the United States.
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