Bansal to explore strategic investments in several technologies
The strategic growth funding from Applied Ventures, LLC, [NASDAQ: AMAT] of Santa Clara can enable Gurgaon’s VVDN Technologies to expand the R&D of next-generation semiconductor technologies as well as electronic products and solutions.
The venture capital arm of Applied Materials has announced a growth equity investment in VVDN, one of the leading India-based electronics product design, software and manufacturing companies in India.
“The vibrant technology ecosystem in India presents an excellent opportunity for Applied Ventures to invest in and collaborate with innovative deep-tech companies,” said Dr. Omkaram Nalamasu, Senior Vice President and CTO, Applied Materials, Inc., and President of Applied Ventures, LLC.
“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,” he said on 19 Feb 2024.
“The investment is another step from Applied Ventures in enabling and developing the global semiconductor and electronics manufacturing ecosystem,” added Anand Kamannavar, Vice President and Global Head, Applied Ventures, LLC.
“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 collaboration underscores our commitment to innovation and driving growth in transformative industries,” elaborated Puneet Agarwal, CEO, VVDN Technologies Pvt. Ltd.
“With Applied Ventures’ support, VVDN is poised to expand its design and manufacturing capabilities to serve global semiconductor and systems companies.”
“The raised funds will additionally facilitate our exploration of strategic investments into several technologies,” informed Vivek Bansal, President, VVDN Technologies Pvt. Ltd.
“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. 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. Fiinews.com
