Applied Ventures, the venture capital arm of Applied Materials, has selected six innovative startups for the fifth cohort of its ASTRA 2024 (Applied Startup Technology & Research Accelerator) program. The program focuses on accelerating the development of solutions for challenges in deep-tech industries, including semiconductor technology, software, supply chain, and advanced manufacturing.
Startups Chosen for ASTRA 2024
The selected startups by Applied Ventures for ASTRA 2024 come from India, Singapore, and Australia. The startups are:
Augmentus (Robotics)
- Cloudsek (Cybersecurity)
- CynLr (Robotics)
- Distil (Supply Chain)
- Syenta (Materials)
- Xyma Analytics (Sensors)
These startups were chosen from a competitive pool of more than 60 applicants, each presenting unique and groundbreaking solutions.
Focus Areas of ASTRA Program
This year’s ASTRA program focused on advanced technologies such as generative AI, semiconductor technologies, display technologies, robotics, cybersecurity, materials, and supply chain solutions. The startups were evaluated on their innovation, market potential, management team strength, and alignment with Applied Materials’ goals.
Leadership Remarks on ASTRA 2024
Om Nalamasu, Senior Vice President and Chief Technology Officer of Applied Materials, expressed excitement about the potential of the selected startups. He stated, “The startups selected for ASTRA 2024 represent the future of technological innovation, showcasing groundbreaking solutions that have the potential to transform industries.”
Avinash Avula, Country President of Applied Materials India, highlighted India’s growing role in the global tech ecosystem and the importance of supporting deep-tech innovation. “By collaborating with these startups, we are supporting a future where India plays a central role in global technology advancements,” he said.
Benefits for the Selected Startups
The startups chosen for ASTRA 2024 will receive several benefits, including access to Applied Materials’ expertise in materials engineering, collaboration opportunities, infrastructure, and industry partnerships. This engagement can help the startups overcome challenges and open doors to investment and growth opportunities.
