Applied Ventures

Applied Ventures is the venture arm of Applied Materials, a company providing nanomanufacturing technology solutions for electronics. It invests in early-stage technology companies with high growth potential and that align with Applied Materials' core capabilities. The unit seeks opportunities that advance or complement its parent’s expertise by developing technologies and markets that extend applications for semiconductors, displays, solar PV, and related products. Its focus includes advanced materials, display technologies, energy conservation and storage, artificial intelligence and big data, life sciences, data storage, software, sustainability, and conservation sectors, aiming to back innovations that integrate with or extend Applied Materials' offerings and support the broader electronics ecosystem.

Blair Georgakas

Investment Manager

Anand Kamannavar

Vice President and Global Head

Steven Konsek Ph.D

Investment Director

Frank Lee

Senior Investment Director

Brad McManus

Senior Investment Director

Omkaram Nalamasu Ph.D

President, Senior Vice President and CTO

Rajesh Ramanujam

Investment Director

Rajesh Ramanujam

Investment Director

Chung Hang Tang

Associate

John Wei Ph.D

Investment Director

Past deals in Semiconductor

Qolab

Series A in 2025
Qolab specializes in developing quantum computing hardware featuring high-coherence superconducting qubits. Utilizing advanced semiconductor manufacturing processes, they aim to facilitate the transition from experimental quantum research to practical commercial applications.

Salience Labs

Series A in 2025
Salience Labs develops hybrid photonic-electronic chips for AI applications. Founded on over a decade of research from Oxford and Münster universities, they specialize in silicon photonics to address AI data center infrastructure demands. Their flagship product is an optical switch designed to facilitate low-latency, high-bandwidth networking between compute nodes, accelerating job completion while reducing power consumption.

Lightspeed Photonics

Pre Seed Round in 2023
Lightspeed Photonics is a building of modular optoelectronic processors and interconnects for data centers and near-edge computing.

3D Glass Solutions

Series C in 2023
3D Glass Solutions designs and manufactures glass-based system-in-package electronic packaging devices and components, and provides design and device consultation and prototyping services. The company serves integrated circuit manufacturers, photonic component suppliers, and defense contractors, leveraging glass-enabled systems integration to consolidate components onto a single platform while reducing manufacturing costs. It utilizes APEX Glass technology to fabricate electronic systems with photo-definable glass ceramics, offering low-loss photosensitive processes, through-glass vias, substrate stacking, and photonic integration. These capabilities support applications in wireless infrastructure, aerospace and defense, photonics, sensors, and AI. The business originated in 2006 and is based in Albuquerque, New Mexico.

Syntiant

Series D in 2022
Syntiant designs neuromorphic semiconductors to enable artificial intelligence and machine learning at the edge. It develops ultra-low-power, high-performance neural network processors for always-on applications in battery-powered devices such as hearing aids, earbuds, smartphones, smart speakers and laptops, enabling on-device AI for sensor, voice, and video processing.

Ideal Semiconductor Devices

Venture Round in 2021
iDEAL Semiconductor is a fabless semiconductor company. They are focused on delivering break-through levels of power efficiency utilizing their new proprietary, patented technology which affords advanced system designers a new palette of performance to deliver today's and tomorrow’s industry-leading new products in all the hottest segments.

Antaios

Series A in 2020
Antaios is a technology company focused on developing innovative memory solutions aimed at addressing the challenges associated with advanced computing. By leveraging the spin-orbit torque phenomenon, Antaios creates memory technology that combines high speed with non-volatility, effectively tackling the increasing power demands faced by chip manufacturers in advanced semiconductor systems. This technology enables clients to enhance the performance of computers and smartphones while maintaining low power consumption, thus optimizing energy efficiency in modern electronic devices. Antaios is dedicated to bringing its groundbreaking technology to market, contributing to the evolution of memory solutions in the technology sector.

Ayar Labs

Series B in 2020
Ayar Labs develops and manufactures high-density electronic-photonic chiplets and lasers, specializing in optical interconnect solutions. Its flagship product, TeraPHY, offers a monolithic in-package optical I/O solution for applications requiring high bandwidth, low latency, and power efficiency. The company's products serve various industries such as artificial intelligence, cloud computing, telecommunications, aerospace, and military.

Exo

Series B in 2020
Exo is a medical device startup specializing in handheld ultrasound technology. It combines advanced materials, sensors, signal processing, and computation with semiconductor manufacturing economies to deliver affordable, high-quality imaging. This empowers healthcare professionals to make critical real-time decisions, enhancing patient outcomes.

Syntiant

Series C in 2020
Syntiant designs neuromorphic semiconductors to enable artificial intelligence and machine learning at the edge. It develops ultra-low-power, high-performance neural network processors for always-on applications in battery-powered devices such as hearing aids, earbuds, smartphones, smart speakers and laptops, enabling on-device AI for sensor, voice, and video processing.

Inpria

Series C in 2020
Inpria Corporation is a specialized manufacturer based in Corvallis, Oregon, focusing on the design, development, and production of EUV metal oxide photoresists for the semiconductor industry. Founded in 2007, Inpria has established itself as a pioneer in the use of inorganic photoresists and thin films for nanoscale patterning. The company's patented photo-condensed molecular oxides allow for the direct deposition of atomically smooth, dense, and photopatternable metal oxide films from solution. This innovation enhances performance while simplifying processing. Inpria's products are meticulously optimized to meet industry specifications related to resolution, sensitivity, and line width roughness, offering a comprehensive solution that includes photoresists, developers, and ancillary materials to support advanced semiconductor manufacturing.

PlayNitride

Series E in 2019
PlayNitride is a Taiwan-based technology company founded in 2014 that focuses on MicroLED display technology and related products. It develops and commercializes its PixeLED display technology for high-resolution, high-contrast MicroLED displays and provides MicroLED modules and panels, supported by research, development, design, production and sales activities. The company operates in Taiwan and aims to deliver high-performance, low-power display solutions.

Spin Memory

Series B in 2018
Spin Memory, Inc. is a technology company specializing in the development of spin-transfer torque magnetoresistive random access memory (STT-MRAM) solutions. Founded in 2007 and headquartered in Fremont, California, the company focuses on addressing the scaling and power challenges associated with conventional memory devices. Spin Memory's innovative MRAM technologies aim to replace on-chip SRAM and various non-volatile memory types in both embedded and stand-alone applications. The company's offerings promise improved performance with faster switching times, reduced power consumption, and enhanced endurance, distinguishing them from traditional memory solutions. Originally established as Spin Transfer Technologies, Inc. through a collaboration between Allied Minds and New York University, Spin Memory is positioned to lead advancements in memory technology with its unique orthogonal spin transfer MRAM approach, which facilitates smaller, more efficient devices without the limitations of endurance and data retention seen in other implementations.

Syntiant

Series B in 2018
Syntiant designs neuromorphic semiconductors to enable artificial intelligence and machine learning at the edge. It develops ultra-low-power, high-performance neural network processors for always-on applications in battery-powered devices such as hearing aids, earbuds, smartphones, smart speakers and laptops, enabling on-device AI for sensor, voice, and video processing.

Exo

Series A in 2017
Exo is a medical device startup specializing in handheld ultrasound technology. It combines advanced materials, sensors, signal processing, and computation with semiconductor manufacturing economies to deliver affordable, high-quality imaging. This empowers healthcare professionals to make critical real-time decisions, enhancing patient outcomes.

Point Engineering

Series A in 2017
Point Engineering is a prominent manufacturing company specializing in precision parts and materials through advanced fine machining and surface treatment technologies. The company focuses on producing electronic core components tailored for high-tech industries, offering a diverse range of products including TFT-LCD parts, semiconductors, display components, CVD parts, dry etch parts, and metal frame products. Additionally, Point Engineering provides differentiated services in micro-electromechanical systems (MEMS) based on its proprietary anodic aluminum oxide (AAO) technology, positioning itself as a key player in the manufacturing sector for innovative electronic solutions.

Electroninks

Series A in 2017
Electroninks is a technology company founded in 2013 as a spin‑out from the University of Illinois Urbana‑Champaign. The company specializes in developing particle‑free conductive, dielectric, and resistor inks for printed electronics. Its formulations rely on pure metallic films derived from small‑molecule chemistries, enabling high‑resolution printing with digital and roll‑to‑roll processes. The inks can be annealed at low temperatures and outperform conventional nanoparticle technologies in performance and reliability. Electroninks supplies these inks for additive manufacturing in advanced semiconductor packaging, displays, passive electronics, and related markets, helping customers improve device performance while reducing manufacturing costs.

Inpria

Series B in 2017
Inpria Corporation is a specialized manufacturer based in Corvallis, Oregon, focusing on the design, development, and production of EUV metal oxide photoresists for the semiconductor industry. Founded in 2007, Inpria has established itself as a pioneer in the use of inorganic photoresists and thin films for nanoscale patterning. The company's patented photo-condensed molecular oxides allow for the direct deposition of atomically smooth, dense, and photopatternable metal oxide films from solution. This innovation enhances performance while simplifying processing. Inpria's products are meticulously optimized to meet industry specifications related to resolution, sensitivity, and line width roughness, offering a comprehensive solution that includes photoresists, developers, and ancillary materials to support advanced semiconductor manufacturing.

Lumiode

Series A in 2017
Lumiode, Inc. is a semiconductor company founded in 2012 and headquartered in New York City. The company specializes in the development and manufacturing of high-brightness microdisplays designed for head-worn devices and augmented reality systems. Lumiode's technology aims to enhance display applications, making it a key player in the growing augmented reality market. The company is supported by venture capital from firms such as IP Group and Applied Ventures.

Exo

Venture Round in 2017
Exo is a medical device startup specializing in handheld ultrasound technology. It combines advanced materials, sensors, signal processing, and computation with semiconductor manufacturing economies to deliver affordable, high-quality imaging. This empowers healthcare professionals to make critical real-time decisions, enhancing patient outcomes.

Electroninks

Series A in 2016
Electroninks is a technology company founded in 2013 as a spin‑out from the University of Illinois Urbana‑Champaign. The company specializes in developing particle‑free conductive, dielectric, and resistor inks for printed electronics. Its formulations rely on pure metallic films derived from small‑molecule chemistries, enabling high‑resolution printing with digital and roll‑to‑roll processes. The inks can be annealed at low temperatures and outperform conventional nanoparticle technologies in performance and reliability. Electroninks supplies these inks for additive manufacturing in advanced semiconductor packaging, displays, passive electronics, and related markets, helping customers improve device performance while reducing manufacturing costs.

Inpria

Venture Round in 2014
Inpria Corporation is a specialized manufacturer based in Corvallis, Oregon, focusing on the design, development, and production of EUV metal oxide photoresists for the semiconductor industry. Founded in 2007, Inpria has established itself as a pioneer in the use of inorganic photoresists and thin films for nanoscale patterning. The company's patented photo-condensed molecular oxides allow for the direct deposition of atomically smooth, dense, and photopatternable metal oxide films from solution. This innovation enhances performance while simplifying processing. Inpria's products are meticulously optimized to meet industry specifications related to resolution, sensitivity, and line width roughness, offering a comprehensive solution that includes photoresists, developers, and ancillary materials to support advanced semiconductor manufacturing.

Persimmon Technologies

Series B in 2014
Founded in 2010, Persimmon Technologies specializes in developing, manufacturing, and distributing advanced vacuum robotics for various industries including semiconductor, LED, OLED, solar, and flat panel display equipment markets. Headquartered in Wakefield, Massachusetts.

Inpria

Venture Round in 2014
Inpria Corporation is a specialized manufacturer based in Corvallis, Oregon, focusing on the design, development, and production of EUV metal oxide photoresists for the semiconductor industry. Founded in 2007, Inpria has established itself as a pioneer in the use of inorganic photoresists and thin films for nanoscale patterning. The company's patented photo-condensed molecular oxides allow for the direct deposition of atomically smooth, dense, and photopatternable metal oxide films from solution. This innovation enhances performance while simplifying processing. Inpria's products are meticulously optimized to meet industry specifications related to resolution, sensitivity, and line width roughness, offering a comprehensive solution that includes photoresists, developers, and ancillary materials to support advanced semiconductor manufacturing.

MTPV

Series B in 2012
MTPV Power Corporation, established in 2003 and based in Austin, Texas, specializes in innovative clean energy solutions. The company focuses on developing Micron-gap ThermalPhotoVoltaics (MTPV) technology, originally researched at MIT and Draper Laboratory before being brought under MTPV Power's umbrella. Their core product is semiconductor chips designed to convert waste heat from various sources into usable electricity, benefiting industrial businesses by enhancing productivity while reducing energy costs.

MTPV

Series B in 2011
MTPV Power Corporation, established in 2003 and based in Austin, Texas, specializes in innovative clean energy solutions. The company focuses on developing Micron-gap ThermalPhotoVoltaics (MTPV) technology, originally researched at MIT and Draper Laboratory before being brought under MTPV Power's umbrella. Their core product is semiconductor chips designed to convert waste heat from various sources into usable electricity, benefiting industrial businesses by enhancing productivity while reducing energy costs.

Semprius

Series C in 2011
Semprius, Inc. is a company based in Durham, North Carolina, specializing in the design, development, and manufacture of high concentration photovoltaic (HCPV) solar modules. Founded in 2005, Semprius focuses on creating low-cost, high-performance solar solutions that are particularly effective in sunny and dry climates. The company's innovative micro-transfer printing technology allows for the production of highly efficient and reliable CPV modules, which are suitable for utility, commercial, industrial, and government applications. Additionally, Semprius licenses its micro-transfer printing technology for various non-solar applications, enabling the development of lightweight and thin products such as flat-panel displays, flexible electronics, and large-area sensors. This technology facilitates the integration of high-performance semiconductors across diverse platforms, enhancing the usability and accessibility of solar energy.

Adesto Technologies

Venture Round in 2010
Adesto Technologies is a prominent provider of application-specific semiconductors and embedded systems tailored for Internet of Things (IoT) applications. The company serves over 5,000 customers globally, offering a diverse range of technologies that support industrial, consumer, medical, and communications markets. Adesto's products are designed to enhance the performance and cost-effectiveness of connected IoT devices, which include smart utility meters, wearable fitness trackers, medical monitors, and home automation systems. The company's extensive portfolio features IoT edge servers, routers, network nodes, communication modules, and various memory technologies. In addition to hardware, Adesto provides software, development kits, and system solutions to facilitate faster market entry for its clients. By leveraging their expertise and proprietary intellectual property, Adesto enables customers to create innovative and reliable IoT solutions, ultimately leading to improved efficiency and lower operational costs.

Tessolve Semiconductor

Series C in 2010
Tessolve is a semiconductor IC test engineering solution provider specializing in a wide range of technologies, including logic, high-speed digital, RF, analog, power, mixed-signal, and memory devices. The company offers comprehensive test services tailored for System-On-a-Chip and System-In-Package devices that cater to various sectors such as wireless, broadband, and consumer markets. With a focus on technical excellence and operational efficiency, Tessolve enhances its versatile test floor by adopting new testing technologies, which lead to reduced time and costs while improving productivity. The company employs over 350 experienced test engineers who support clients throughout the product development cycle, from initial design to successful tape-out. As an independent entity, Tessolve is not affiliated with any Automatic Test Equipment manufacturers, allowing it to prioritize customer objectives by selecting optimal test systems that ensure cost-effectiveness and maximum coverage. This independence also enables the transfer of intellectual property and hardware ownership to clients, providing them with the flexibility to choose the best-performing subcontractors for production ramp-up.

Translarity

Series B in 2009
Translarity, headquartered in Silicon Valley, specializes in innovative semiconductor wafer testing solutions, focusing on advanced probe card markets. The company pioneers full-wafer testing with low cost, high performance, and short cycle times. In 2017, Translarity acquired BucklingBeam to expand its offerings, now providing a comprehensive suite of probe card solutions including full probe cards and vertical probe head solutions. Leveraging its proprietary Space Translator™ technology, Translarity addresses the rapid evolution in probe technologies. Led by an experienced management team and supported by strong financial investors, Translarity has recruited top industry talent to develop Wafer Translator™ technology, resulting in a robust IP portfolio with over 45 issued patents and more than 50 filed.

Semprius

Series B in 2009
Semprius, Inc. is a company based in Durham, North Carolina, specializing in the design, development, and manufacture of high concentration photovoltaic (HCPV) solar modules. Founded in 2005, Semprius focuses on creating low-cost, high-performance solar solutions that are particularly effective in sunny and dry climates. The company's innovative micro-transfer printing technology allows for the production of highly efficient and reliable CPV modules, which are suitable for utility, commercial, industrial, and government applications. Additionally, Semprius licenses its micro-transfer printing technology for various non-solar applications, enabling the development of lightweight and thin products such as flat-panel displays, flexible electronics, and large-area sensors. This technology facilitates the integration of high-performance semiconductors across diverse platforms, enhancing the usability and accessibility of solar energy.

Innolume

Series C in 2008
Innolume GmbH is a manufacturer of advanced laser diodes based in Dortmund, Germany. Established in 2002, the company specializes in a wide array of optoelectronic devices, including single-mode and broad-area laser diodes, comb-lasers, and semiconductor optical amplifiers. Innolume's products are designed for various applications, such as Raman amplification, optical interconnects, and medical and industrial uses. Notably, the company has developed a novel comb laser light engine that facilitates economical wavelength-division multiplexing for short-reach optical connections in computing environments. This innovation enhances efficiency by reducing the need for multiple lasers and underutilized fiber, significantly lowering costs and power consumption. Innolume has also received recognition for its temperature-independent distributed feedback laser, which has the potential to impact the future of data communication.

ActaCell

Series A in 2008
ActaCell, Inc. is a technology startup that specializes in commercializing advanced lithium-ion battery technology originally developed at the Material Science and Engineering lab of The University of Texas at Austin. The company's focus is on creating batteries with substantially longer cycle life at a low cost while prioritizing safety. ActaCell's innovative energy cell chemistry features a nanocomposite alloy anode material designed to replace graphite in high-energy applications, providing customers with efficient and long-lasting energy storage solutions.

Adesto Technologies

Series A in 2008
Adesto Technologies is a prominent provider of application-specific semiconductors and embedded systems tailored for Internet of Things (IoT) applications. The company serves over 5,000 customers globally, offering a diverse range of technologies that support industrial, consumer, medical, and communications markets. Adesto's products are designed to enhance the performance and cost-effectiveness of connected IoT devices, which include smart utility meters, wearable fitness trackers, medical monitors, and home automation systems. The company's extensive portfolio features IoT edge servers, routers, network nodes, communication modules, and various memory technologies. In addition to hardware, Adesto provides software, development kits, and system solutions to facilitate faster market entry for its clients. By leveraging their expertise and proprietary intellectual property, Adesto enables customers to create innovative and reliable IoT solutions, ultimately leading to improved efficiency and lower operational costs.

Plextronics

Venture Round in 2007
Plextronics is a company that specializes in printed electronics, particularly in the development of organic light-emitting diode (OLED) displays and lighting. The company focuses on innovative technologies involving conductive inks and associated processes, which are essential for the mass production of printed electronic devices. Additionally, Plextronics is involved in the development of active layer technology for organic solar cells and plastic circuitry. By advancing these technologies, Plextronics aims to reduce production costs and enhance the feasibility of integrating printed electronics into various applications.

Semprius

Series A in 2007
Semprius, Inc. is a company based in Durham, North Carolina, specializing in the design, development, and manufacture of high concentration photovoltaic (HCPV) solar modules. Founded in 2005, Semprius focuses on creating low-cost, high-performance solar solutions that are particularly effective in sunny and dry climates. The company's innovative micro-transfer printing technology allows for the production of highly efficient and reliable CPV modules, which are suitable for utility, commercial, industrial, and government applications. Additionally, Semprius licenses its micro-transfer printing technology for various non-solar applications, enabling the development of lightweight and thin products such as flat-panel displays, flexible electronics, and large-area sensors. This technology facilitates the integration of high-performance semiconductors across diverse platforms, enhancing the usability and accessibility of solar energy.

Grandis

Venture Round in 2005
Grandis specializes in developing and licensing innovative non-volatile memory solutions derived from spintronics research. Its mission is to enable revolutionary products by applying the electron's spin for information storage, manipulation, and transmission.

FlexLight Networks

Series C in 2003
Founded in September 2000 by a dynamic team of high-powered and experienced optical network specialists, FlexLight's suite of optical access products leverages leading-edge technology to deliver a solution that conquers last-mile bandwidth bottlenecks and optimizes service flexibility. FlexLight's seed funding of $9 million comes from America's Coral Ventures, a private venture capital firm that manages more than $300 million of capital in five funds, and from Israel's Concord Venture Capital Fund, a firm that offers exceptional entrepreneurs the capital, guidance and industry contacts they need to become leaders in their field.

M-Stream

Series A in 2003
M-Stream develops chips for improved reception of voice, video, music and heavy multimedia for second, 2.5, and third-generation cellular communication systems. The start-up raised $1.5 million in its first round of financing in March 2003, at which time it also signed its first agreement with Broadcom. Aside from the $750,000 injection, the deal included an option to buy the company depending on its reaching certain goals.

Grandis

Series A in 2003
Grandis specializes in developing and licensing innovative non-volatile memory solutions derived from spintronics research. Its mission is to enable revolutionary products by applying the electron's spin for information storage, manipulation, and transmission.
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