HomeIndiaApplied Ventures Selects Seven Deeptech Startups For Engagment Program

Applied Ventures Selects Seven Deeptech Startups For Engagment Program

Applied Ventures

Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc.*, along with Applied Materials India Private Limited, selected seven deeptech startups during the fourth cohort of its startup engagement program – ASTRA (Applied Startup Technology & Research Accelerator) in Bengaluru.

Based in India and Singapore the selected startups during ASTRA 2023 include:

Company nameFocus area
App SentinelsFull life-cycle API Security platform
ExposomeMaterial chemistry technology for abating industrial wastewater & emissions
Ethereal Machines5 Axis CNC Machining
Lightspeed PhotonicsPhotonics: Optoelectronic interconnects and modular processors
OIP TechnologiesOptical-in-Package solution with advanced packaging technology
PortkeyProduction-ready tools to make Generative AI apps
Sungreen H2High-efficiency electrolyzer components for Green Hydrogen production

Chosen from a pool of 50+ applications, the selected startups pitched their business proposals to Applied Materials executives and industry leaders during the event. The startups were then evaluated based on criteria such as Fit to Applied Technology and Business, High-Value Problems Addressed, Differentiation from Existing Market Solutions and Business Models, and Growth Potential.

The areas of focus for ASTRA 2023 were Generative AI, Semiconductor and Display Technologies, Sustainability, Supply Chain Solutions, Cybersecurity, Advanced Materials, Advanced Optics and Photonics, and AI Hardware.

With ASTRA 2023, Applied Materials and Applied Ventures are leveraging their extensive technical and industry expertise to accelerate the startup ecosystem. The companies selected during the fourth cohort of ASTRA will now be assessed for mentorship, possible collaboration with Applied Materials, and investment opportunities from Applied Ventures. As a consultant, Applied Materials will help the final startups selected this year address market and technology challenges and explore potential scale-up pathways. The selected companies will also have access to Applied Materials’ product development expertise, best-known methods for maximizing market opportunities, infrastructure, and ecosystem connections.

Commenting on the startup selection, Om Nalamasu, Senior Vice President and Chief Technology Officer of Applied Materials, Inc., and President of Applied Ventures, said: “I would like to congratulate the seven selected startups for their innovative solutions. All of them have showcased exciting visions of the future, and we look forward to helping them reach their full potential through collaboration and mentorship. The ASTRA program connects us with some of the most dynamic deeptech startups, and we want to continue this incredible journey where Applied Ventures can play a significant role in fostering innovation, collaboration, and entrepreneurship to cultivate a thriving startup ecosystem.

Anand Kamannavar, Global Head, Applied Ventures, and sponsor of ASTRA, added: “The fourth cohort of ASTRA has showcased breakthrough innovations across the broader Materials to Systems™ stack in the areas of Generative AI, Semiconductors, ESG, and Supply Chain. We are thrilled to engage with the shortlisted startups; they all have tremendous potential to transform the market ecosystem. Applied Ventures will continue to support breakthrough companies across the globe, help bring their innovations to market, and guide their journey towards becoming successful business models.

*Applied Materials, Inc. is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world.