6 Startups are Chosen by Applied Ventures, Applied Materials VC's arm, for its 5th ASTRA Cohort

Nitin Konde, Varun Bhardwaj

Nov 8, 2024 — 2 min read

Applied Ventures Selects 6 Startups for 5th ASTRA Cohort

Six innovative firms have been chosen as part of the fifth cohort of the Applied Startup Technology & Research Accelerator (ASTRA) by Applied Ventures, LLC, the venture capital division of Applied Materials, Inc., in partnership with Applied Materials India Private Limited.

The programme aims to speed up the creation of novel solutions that could potentially solve some of the most important problems faced by the deep-tech sector, which includes sophisticated manufacturing, software, supply chain, and semiconductor technology.

The Main Focus of This Year’s ASTRA Programme

The chosen startups, Augmentus, Cloudsek, CynLr, Distil, Syenta, and Xyma Analytics, are headquartered in India, Singapore, and Australia and were chosen from more than 60 applicants. The leaders and associates of Applied Materials from the venture capital and startup ecosystems were presented with the innovative solutions of the companies in fields such as robotics, cybersecurity, materials, and sensors. Supply chain innovations, semiconductor and display technologies, market scalability, and generative AI were also prioritised in this year's ASTRA programme.

The companies were assessed according to their innovative solutions, market and growth potential, management team strength, and compatibility with the business and technological goals of Applied Materials.

The startups chosen for ASTRA 2024, according to Om Nalamasu, Senior Vice President and Chief Technology Officer of Applied Materials, Inc. and President of Applied Ventures, LLC, represent the future of technological innovation, exhibiting ground-breaking solutions that have the potential to revolutionise industries. Their technical expertise and inventiveness complement Applied's endeavours to advance materials engineering and facilitate next-generation deep-tech breakthroughs.

Nalamasu continued, "Applied looks forward to collaborating closely with these innovative businesspeople, providing them with its resources, global network, and mentorship to help accelerate their growth opportunities."

India's place in the global semiconductor and technology ecosystem is growing quickly, and Applied Materials must encourage deep-tech innovation to keep up with this expansion, according to Avinash Avula, Country President, Applied Materials India. A key component of ASTRA 2024 is the company's dedication to fostering the next wave of tech firms that will propel the growth of India's deep-tech and semiconductor industries. The company hopes to support a future in which India is a key player in global technological breakthroughs by working with these entrepreneurs.

Positive Outcomes for the Chosen Startups

The firm claims that the companies chosen for ASTRA 2024 can take advantage of Applied Materials' materials engineering experience, opportunities for cooperation with the business units of the company, access to infrastructure and ecosystem partners, and exposure to best practices in the sector.

These firms may be able to establish alliances and look at funding options through this involvement, which could assist them in overcoming technological and market obstacles.