The selected deep-tech startups will be evaluated for investment by Applied Ventures and potential collaboration opportunities with Applied Materials.
In collaboration with the company’s India subsidiary, the venture capital arm of materials engineering solutions provider Applied Materials, Inc. has selected six startups headquartered in India, Singapore, and Australia for the fifth cohort of its accelerator programme.
Out of a pool of 60 startups, Augmentus, Cloudsek, CynLr, Distil, Syenta, and Xyma Analytics have been chosen to benefit from the Applied Startup Technology & Research Accelerator (ASTRA) programme. This will allow the startups to collaborate with the company’s business units, provide access to infrastructure and ecosystem partners, and expose them to industry best practices. Through this engagement, startups can forge partnerships and explore investment opportunities to overcome market and technological barriers.
The startups were evaluated by global Applied Materials leaders and partners from the VC and startup ecosystem 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, Inc., and President of Applied Ventures, LLC, said that the technical prowess of these startups aligns with Applied’s goals. “We anticipate working closely with these entrepreneurs, offering them our mentorship, resources and global network to help accelerate their growth opportunities,” he stated.
The programme is designed to accelerate the development of innovative solutions in semiconductor technology, software, supply chain and advanced manufacturing. Of the six startups, Singapore-based Augmentus and Bengaluru-based CynLr are working on robotics technology. Australia-based Syenta offers multiple services, including 3D printing of electronics using multiple materials and electrochemistry-based manufacturing equipment. Chennai-based Xyma Analytics manufactures ultrasonic waveguide-based sensors for high-temperature industrial applications. Bengaluru-based Cloudsek is developing a cybersecurity platform powered by AI and machine learning, and nestling in the suburbs of Mumbai, Distil, is a speciality chemicals distributor.
Anand Kamannavar, Global Head, Applied Ventures, LLC, and sponsor of ASTRA, stated that the company intended to go beyond capital investment. “The focus areas of cohort 2024 include AI, semiconductors, supply chain and advanced manufacturing. We intend to work closely with these startups, offering them a platform to scale, connect with our global partners and, ultimately, disrupt markets,” he said.
Speaking about India’s role in the global semiconductor ecosystem, Avinash Avula, country president of Applied Materials India, pointed out the necessity of supporting deep-tech innovation and the accelerator programme’s role in it. “By collaborating with these startups, we are supporting a future where India plays a central role in global technology advancements,” he said.
