APPLIED-VENTURES-INVESTS-IN-VVDN-TECHNOLOGIES

The investment signifies Applied Ventures' commitment to foster innovation, collaboration, and entrepreneurship in the semiconductor and electronics manufacturing ecosystems.

BANGALORE, India, Feb. 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.

About Applied Ventures, LLC

Applied Ventures, LLC, the venture capital arm of Applied Materials, invests in innovative technology companies globally that are poised to deliver high growth and exceptional strategic and financial returns. For more than a decade, Applied Ventures has invested in startups globally, including India, that are pioneering innovations in semiconductor and display technologies, high-performance computing, smartphones, augmented and virtual reality, AI/ML, autonomous cars, big data, life sciences, fab automation software, robotics, sensors, advanced materials, and ESG. Learn more at www.appliedventures.com or follow @Applied_VC.

About VVDN:

VVDN is a Product Engineering and Manufacturing company focused on designing & manufacturing end-to-end products across several technology vertical markets (5G, Datacenter, Networking, and Wi-Fi, Vision, Automotive, IoT, Cloud & Apps). VVDN's India HQ is located at Gurgaon, India, and its North America HQ is located in Fremont, CA, USA. VVDN serves global customers across several regions including the US, Canada, Europe, India, Vietnam, Korea, and Japan. VVDN has 11 advanced product engineering centres in India, which are fully equipped to design & test the complete hardware & software required to develop a complete product or solution. VVDN's 7 Manufacturing facilities are located at Manesar, Gurgaon, and Pollachi, Tamil Nadu, India, which includes in-house best-in-class SMT Factory, Molding & Tooling Factory, Die Casting, Antenna Assembly, Product Assembly Factory, and Product Certification labs. VVDN's Engineering & Manufacturing facilities are fully compiled to develop & manufacture Enterprise, Consumer, Industrial, and Automotive-grade products.