Banglore, India-based, the venture capital arm of Applied Materials, Inc., Applied Ventures, LLC announced a growth equity investment in VVDN Technologies. The latter is one of the leading India-based electronics product design, software, as well as manufacturing companies. The company announced the investment on February 19, 2024. However, the amount of the transaction remains undisclosed.
Purpose of financing for Applied Ventures
With the latest financing from Applied Ventures, VVDN gets to expand the R&D of next-generation semiconductor technologies. It also seeks to expand its electronic products and solutions further.
What the Applied Ventures official has to comment
Dr Omkaram Nalamasu, Senior Vice President and CTO of 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, further 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.”
What the investors have to comment
In addition, 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., further 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.”
About VVDN Technologies
VVDN is a Product Engineering and Manufacturing firm that designs and manufactures end-to-end solutions for a variety of technology vertical industries (5G, Datacenter, Networking and Wi-Fi, Vision, Automotive, IoT, Cloud, and Apps). VVDN has its India headquarters in Gurgaon, India, and its North American headquarters in Fremont, California, USA. VVDN services customers worldwide, including the United States, Canada, Europe, India, Vietnam, Korea, and Japan. VVDN offers 11 advanced product engineering centres in India, each fully prepared to design and test the whole hardware and software required to produce a complete product or solution.
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