Applied Ventures, the venture capital arm of Applied Materials, in collaboration with Applied Materials India, has selected six startups as part of the fifth cohort of the Applied Startup Technology & Research Accelerator (ASTRA 2024).
This program seeks to accelerate the development of innovative solutions that have the potential to address some of the deep-tech industry’s most pressing challenges, spanning semiconductor technology, software, supply chain and advanced manufacturing.
Headquartered in India, Singapore and Australia, the selected startups for ASTRA 2024 – Augmentus, Cloudsek, CynLr, Distil, Syenta and Xyma Analytics – were chosen from a highly competitive pool of more than 60 applicants.
The startups presented their groundbreaking solutions to an audience of global Applied Materials leaders and partners from the VC and startup ecosystem. This year’s ASTRA program focused on areas including generative AI, semiconductor and display technologies, robotics, cybersecurity, materials and supply chain. The startups were evaluated based on solution uniqueness, market and growth potential, management team strength, and alignment with Applied Materials’ technology and business objectives.
Commenting on the occasion, Om Nalamasu, Senior Vice President and Chief Technology Officer of Applied Materials and President of Applied Ventures, said, “The startups selected for ASTRA 2024 represent the future of technological innovation, showcasing groundbreaking solutions that have the potential to transform industries. Their creativity and technical prowess align with Applied’s efforts to push the boundaries of materials engineering and enable next-generation deep-tech innovations. We anticipate working closely with these trailblazing entrepreneurs, offering them our mentorship, resources and global network to help accelerate their growth opportunities.”
Anand Kamannavar, Global Head, Applied Ventures and sponsor of ASTRA said, “ASTRA 2024 showcases the bold and transformative ideas emerging in deep tech today. This year’s startups are focused on areas including AI, semiconductors, supply chain and advanced manufacturing, which are critical to future-proofing industries. Our role at Applied Ventures goes beyond capital investment; we intend to work closely with these startups, offering them a platform to scale, connect with our global partners and, ultimately, disrupt markets.”
Avinash Avula, Country President, Applied Materials India said, “India’s role in the global semiconductor and technology ecosystem is expanding rapidly, and it’s essential that we foster deep-tech innovation to support this growth. ASTRA 2024 is a crucial part of our commitment to nurturing the next generation of technology companies who will drive the development of India’s semiconductor and deep-tech ecosystem. By collaborating with these startups, we are supporting a future where India plays a central role in global technology advancements.”
The startups selected during ASTRA 2024 can benefit from Applied Materials’ expertise in materials engineering, collaboration opportunities with the company’s business units, access to infrastructure and ecosystem partners and exposure to industry-best practices. Through this engagement, startups can have the potential to forge partnerships and explore investment opportunities that can help them overcome market and technological barriers.
