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 robotics, cybersecurity, materials science, and sensors. The 2024 ASTRA programme focused on generative AI, 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:
| Company | Focus Area |
|---|---|
| Augmentus | Robotics |
| Cloudsek | Cybersecurity |
| CynLr | Robotics |
| Distil | Supply Chain |
| Syenta | Materials |
| Xyma Analytics | Sensors |
