Bangalore, February 19, 2024: Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., today announced a growth equity investment in VVDN Technologies, one of the leading India-based electronics product design, software, and manufacturing companies. The strategic growth funding from Applied Ventures can enable VVDN to expand the R&D of next-generation semiconductor technologies as well as electronic products and solutions.

Commenting on the investment, Dr. Omkaram Nalamasu, Senior Vice President and CTO, Applied Materials, Inc., and President of Applied Ventures, LLC, said, “The vibrant technology ecosystem in India presents an excellent opportunity for Applied Ventures to invest in and collaborate with innovative deep-tech companies. Our investment and collaboration with VVDN align with Applied Ventures’ commitment to advancing India’s electronic product engineering and design capabilities and fostering innovation and entrepreneurship to create a thriving semiconductor ecosystem.”

Anand Kamannavar, Vice President and Global Head, Applied Ventures, LLC, said “Applied Ventures looks to invest in companies with the potential for significant growth. VVDN’s strong combination of design and manufacturing capabilities puts the company in a great position to become a major player not only in India but also in the global electronics design and manufacturing industry.  The investment is another step from Applied Ventures in enabling and developing the global semiconductor and electronics manufacturing ecosystem.” 

Puneet Agarwal, CEO, VVDN Technologies Pvt. Ltd. said “We are delighted with the strategic investment from Applied Ventures, LLC. The collaboration underscores our commitment to innovation and driving growth in transformative industries. With Applied Ventures' support, VVDN is poised to expand its design and manufacturing capabilities to serve global semiconductor and systems companies.

Vivek Bansal, President, VVDN Technologies Pvt. Ltd. said “We are thrilled with this infusion of capital as it will fuel our mission to deliver cutting-edge solutions and grow VVDN to new heights. The raised funds will additionally facilitate our exploration of strategic investments into several technologies. This forward-looking approach positions us to leverage opportunities that align with our growth trajectory, further enhancing our competitive edge and market presence."

The Indian electronics market has exhibited robust growth in recent years as the country looks to expand its role in the global semiconductor ecosystem. VVDN has a unique combination of design, manufacturing, and test capabilities which can allow it to play a pivotal role as engineering, software, and manufacturing partner for companies across automotive, datacenter, telecom, IoT, security surveillance, industrial, medtech, and other markets.