Thursday, 21 November 2024
31.2 C
Singapore

Applied Ventures selects six startups for ASTRA 2024 accelerator programme

Applied Ventures selects six startups for ASTRA 2024, driving innovation in semiconductors, software, supply chain, and advanced manufacturing.

Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., has announced six promising startups selected for its fifth cohort of the Applied Startup Technology & Research Accelerator (ASTRA) programme. The ASTRA initiative aims to fast-track developments in semiconductor technology, software, supply chain, and advanced manufacturing, addressing some of the deep-tech sector’s most complex challenges.

The selected startups, based in Australia, India, and Singapore, include Augmentus, Cloudsek, CynLr, Distil, Syenta, and Xyma Analytics. These companies were chosen from a competitive pool of over 60 applicants, presenting cutting-edge solutions across fields such as , cybersecurity, materials science, and sensors. The 2024 ASTRA programme focused on , semiconductor and display technology, robotics, cybersecurity, and supply chain improvements. Startups were assessed on solution originality, market potential, growth capacity, team strength, and alignment with Applied Materials’ goals.

Leaders at Applied Ventures praise ASTRA 2024 startups

Om Nalamasu, Senior Vice President and Chief Technology Officer at Applied Materials, Inc., and President of Applied Ventures, LLC, expressed enthusiasm about the selected startups. “The startups chosen 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 of Applied Ventures, LLC, and sponsor of ASTRA, echoed this sentiment, highlighting the transformative power of deep-tech solutions. “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.”

ASTRA 2024 startups to gain mentorship and collaboration

The startups in ASTRA 2024 will benefit from Applied Materials’ deep expertise in materials engineering, alongside collaboration opportunities within the company’s business units. They will have access to critical infrastructure, partnerships, and best practices from the industry, allowing them to explore investment avenues, build strategic partnerships, and tackle technological and market challenges more effectively.

The six startups selected for ASTRA 2024 include:

CompanyFocus Area
AugmentusRobotics
CloudsekCybersecurity
CynLrRobotics
DistilSupply Chain
SyentaMaterials
Xyma AnalyticsSensors

Hot this week

China’s chip production slows in October as US sanctions loom

China’s chip production slowed in October as potential US sanctions loomed. Legacy chips and EVs drove growth while advanced tech lagged.

AMD claims Ryzen AI processor delivers 75% faster gaming than Intel

AMD’s Ryzen AI 9 HX 370 processor boasts powerful AI and game-boosting tech and claims a 75% gaming performance boost over Intel’s Core Ultra 7.

Hong Kong’s PC Partner moves HQ to Singapore amidst shifting supply chains

PC Partner moves to Singapore and opens an Indonesian factory, diversifying amid US-China tensions and rising global demand.

Warrix enhances internal communications with Slack to boost collaboration and efficiency

Warrix has transformed its internal communications with Slack, cutting time spent on meetings and improving collaboration by 30%.

Bitfinex hacker sentenced to five years for massive crypto heist

Bitfinex hacker Ilya Lichtenstein was sentenced to five years in prison for stealing US$10 billion in Bitcoin—wife Heather Morgan will be sentenced soon.

ChatGPT could soon gain the ability to see

ChatGPT’s Advanced Voice Mode might soon include a live camera feature, enabling AI to identify objects and interact visually.

Microsoft to enhance 365 Copilot with AI agents and new features

Microsoft unveils new AI-powered features for 365 Copilot, including Copilot Actions and Windows 365 Link, boosting workplace productivity.

Qualcomm is upbeat about the future with the Trump administration and forecasts robust chip sales growth

Qualcomm forecasts US$22B in chip sales growth, expands in auto and PC sectors, and expresses confidence in US-China business ties under Trump.

Xi promotes a ‘shared future in cyberspace’ at internet forum amid rising US-China tech tensions

Xi Jinping called for global collaboration in cyberspace at the World Internet Conference as US-China tensions grow over AI and tech decoupling.

Related Articles

Popular Categories