German startup alqem raises €8M to boost Europe's materials supply chain

alqem, a Munich-based deep tech startup, has announced the successful closure of an €8 million pre-seed funding round. The round was co-led by UVC Partners and Union Square Ventures, two prominent venture capital firms. alqem is developing an artificial intelligence engine designed to discover and commercialize next-generation materials. The company’s technology creates a map of the materials universe, which it claims is the first of its kind. This map is intended to accelerate the identification and development of new materials, making the process faster and more efficient. The primary goal of the startup is to establish a European-led supply chain for materials, with a particular focus on magnets that are essential for many high-tech industries such as electronics, renewable energy, and electric vehicles. By reducing Europe's dependence on foreign suppliers for these critical materials, alqem aims to enhance the continent's industrial autonomy. The newly raised funds will be used to further develop the AI engine and support the company's growth and commercialization efforts. This investment marks a significant step toward building a more resilient and independent materials supply chain in Europe.