Applied Ventures Selects Seven Deep tech Startups during ASTRA 2023

Bengaluru, India | Singapore; September 30, 2023 – Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., along with Applied Materials India Private Limited, selected seven deep tech startups during the fourth cohort of its start-up engagement program – ASTRA (Applied Startup Technology & Research Accelerator) in Bengaluru. ASTRA aims to collaborate with start-ups and transform disruptive possibilities into reality.

Based in India and Singapore the selected startups during ASTRA 2023 include Lightspeed Photonics, Portkey, Sungreen H2, Exposome, OIP Technologies, App Sentinels, and Ethereal Machines.

Chosen from a pool of 50+ outstanding applications, the selected start-ups pitched their business proposals to Applied Materials executives and industry leaders during the event. The start-ups were then evaluated based on criteria such as Fit to Applied Technology and Business, High-Value Problems Addressed, Differentiation from Existing Market Solutions and Business Models, and Growth Potential. The areas of focus for ASTRA 2023 were Generative AI, Semiconductor and Display Technologies, Sustainability, Supply Chain Solutions, Cybersecurity, Advanced Materials, Advanced Optics and Photonics, and AI Hardware.

Commenting on the occasion, Om Nalamasu, Senior Vice President and Chief Technology Officer of Applied Materials, Inc., and President of Applied Ventures said, “I would like to congratulate the seven selected start-ups for their innovative solutions. All of them have showcased exciting visions of the future, and we look forward to helping them reach their full potential through collaboration and mentorship. The ASTRA program connects us with some of the most dynamic deeptech startups, and we want to continue this incredible journey where Applied Ventures can play a significant role in fostering innovation, collaboration, and entrepreneurship to cultivate a thriving start-up ecosystem.”

Anand Kamannavar, Global Head, Applied Ventures, and sponsor of ASTRA, said, “The fourth cohort of ASTRA has showcased breakthrough innovations across the broader Materials to Systems™ stack in the areas of Generative AI, Semiconductors, ESG, and Supply Chain. We are thrilled to engage with the shortlisted startups; they all have tremendous potential to transform the market ecosystem. Applied Ventures will continue to support breakthrough companies across the globe, help bring their innovations to market, and guide their journey towards becoming successful business models.”

Srinivas Satya, Country President, Applied Materials India said, “We’ve always believed in the power of entrepreneurship to drive meaningful change, and we’re excited to see how these shortlisted startups will contribute to India’s semiconductor ecosystem. By collaborating with these cutting-edge businesses, we are accelerating the creation of a local semiconductor ecosystem and building on the recent announcement of our intent to establish a Collaborative Engineering Center in India.

With ASTRA 2023, Applied Materials and Applied Ventures are leveraging their extensive technical and industry expertise to accelerate the growing start-up ecosystem. The companies selected during the fourth cohort of ASTRA will now be assessed for mentorship, possible collaboration with Applied Materials, and investment opportunities from Applied Ventures. As a consultant, Applied Materials will help the final start-ups selected this year address market and technology challenges and explore potential scale-up pathways. The selected companies will also have access to Applied Materials’ product development expertise, best-known methods for maximizing market opportunities, infrastructure, and ecosystem connections.

Following are the selected start-ups during ASTRA 2023

HDFC Pension launches a first-of-its-kind National Pension System (NPS) Preference Index on the occasion of NPS Diwas

Mumbai, September 30, 2023: HDFC Pension, one of India’s leading Pension Fund Managers, has been at the forefront in creating consumer awareness amongst Indians about retirement planning using the National Pension System (NPS).

October 1st is marked as NPS Diwas. To coincide with the day, HDFC Pension has launched a first-of-its-kind NPS Preference Index that highlights the preference of NPS amongst different consumer groups.

The NPS is a government-backed retirement savings program designed to provide financial security to Indian citizens during their retirement years. NPS can be subscribed to by any Indian citizen, aged between 18-70 years, on a voluntarily basis.

HDFC Pension commissioned an independent market research specialist, Ipsos for conducting the survey for the NPS Preference Index. The findings are based on a consumer market research study*with 1,801 NPS aware consumers across Tier I/II/III locations in the age cohorts of 30-40 years and 45-55 years.

The objective of the survey was to understand consumer outlook towards retirement and gauge consumer familiarity, appeal and consideration, leading to the ‘NPS Preference Index’ which can be tracked over time.

The survey findings indicate that currently the NPS Preference Index stands at 54 (on a scale of 0 to 100). Hence, it can be concluded that NPS Preference Index is currently at a moderate level and is equally influenced by the three pillars of familiarity, appeal and consideration.

NPS Preference Index improves with increasing income level of the consumers. North region has the highest NPS preference index (57) compared to other regions.

Some other highlights of the report:

Even though, on an average, 32 years is considered as an ideal age to start retirement planning, the retirement corpus need is often underestimated. Average ideal retirement corpus of Rs. ~1.3 Cr stated by consumers is observed to be less than 10X of their current annual household income reflecting the need to educate consumers about the recommended levels of retirement corpus
Capital security, tax benefi­ts, and continued income after death are key factors for retirement products. While being a relatively new instrument, NPS ownership is at 24%, with appealing features like tax-free withdrawals, safety (being Government regulated) and benefit for spouse. Tax benefit (80C/80CCD) has a relatively higher appeal (35%) among those enrolled for NPS compared to all consumers (31%)

While tax bene­fits, peers, and ­financial advisors trigger NPS purchase, educating people about NPS and its features is critical to drive adoption. It has further been noticed that individuals who have enrolled for NPS feel more confident about their financial health during retirement years. It can thus be said that NPS ownership is a strong indicator of financial preparedness for one’s retirement years.
*Note: This consumer research study was conducted as Face-to-Face personal interviews between Aug-Sep 2023 across 12 cities in India among NCCS A, annual household income above INR 10 lakhs (above INR 7 lakhs for Tier III cities),

Speaking on the launch, Sriram Iyer, Chief Executive Officer, HDFC Pension said, “On the occasion of NPS Diwas, we are pleased to unveil the NPS Preference Index, a report that puts the industry-first spotlight on the National Pension System (NPS). In an age where financial security is paramount, our commitment to empowering individuals for a secure retirement gains unprecedented strength.

National Pension System (NPS) is instrumental to facilitate an income post retirement, making it pivotal for long-term financial security. In India, a significant opportunity exists to boost NPS adoption, which is why there was a need to delve deeper into the intricacies and understand why.

Our pursuit is not limited to mere awareness; it extends to building an earnest understanding of NPS among individuals, which is why we worked further ahead to present the ‘NPS Preference Index’, a powerful metric derived from three broad aspects that delve into familiarity, appeal and consideration for NPS.”

HDFC Pension is the fastest growing legacy Pension Fund Manager in India, under Retail and Corporate NPS segments with the highest number of subscribers (16,92,504 as on September 1st 2023). HDFC Pension has crossed the milestone of Rs. 50,000 cr. of Assets Under Management (AUM) on May 15th 2023 and has been awarded as the ‘Best Performing PFM’ by Money Today for 3 consecutive years from 2019 to 2022.

Affordplan announces management buyout by CEO, Aditya Sharma. Ex-Coca Cola Chief, Sanjiv Gupta, amongst new investors

New Delhi, 30th September 2023: Affordplan – a healthcare finance technology platform that works to address revenues for hospitals while addressing out-of-pocket-expenditure for patient families, announced a management-led buyback of all the equity investment previously held by Affordplan’s founders and 4 prominent private equity investors. The buyout was led by Affordplan’s CEO, Aditya Sharma, and a set of new equity investors that include Sanjiv Gupta, ex-Chief of Coca Cola, who now own 100% stake in the fintech company.

Affordplan’s CEO, Aditya Sharma commented, “We are happy to provide a fresh direction to the company and remain committed to working with our partner hospitals and their patients to help with unique ways of managing healthcare costs. Our aim is to ensure that as many people as possible in the country are able to get access to quality healthcare at the most affordable costs. We are very grateful to our previous investors who have been highly supportive and have helped us on every step of the way”.

According to Sanjiv Gupta, “It is very exciting to be a part of the Affordplan growth journey in its quest for partnering with hospitals in the country to make care affordable, digital and equitable. I am very confident of its success with a strong team led by the dynamic Aditya Sharma who has demonstrated a successful business model.”

Since its launch in June 2020, Swasth has onboarded 3,50,000 families delivering cost savings to the tune of INR 20 crores to these families. Swasth is a digital wallet that enables OPD (Outpatient Department) payments including lab tests, purchase of medicines, and IPD payments. Equipped with a digital stack, customers will also enjoy additional benefits in the form of instant cashback, exclusive hospital offers, and exclusive discounts on preferred brands through the Affordplan Swasth partner tie-ups.

Communion Launches In Navi Mumbai

Mumbai, 30th September’23 : Navi Mumbai was missing out on a tropical-chic all day pet-friendly Café – a community space where people congregate, communicate, co-work and converse, with the best F&B offerings. Communion, the all-day cafe is here to save the day. Curated with a vision to make old-school comfort available in a rustic way, Communion is a space where patrons come together to bask in the comfort of food and ingredients from around the world.

Launched by ACME Hospitality, Communion is the space that Navi Mumbai needed – a casual café for a cup of coffee and dessert that can transcend into lunch and dinner with equal ease. With a light, bright, airy, colorful space with an extensive outdoor area, guests are welcomed with landscaping elements that exude the best of nature and instill an instant sense of peace. With the launch of Communion, Navi Mumbaikars will have found the next favorite all-day cafe to enjoy a wholesome and comforting gastromical journey. Communion’s interior is a testament to the power of minimalist elegance embracing the concept of “less is more.” The design team has meticulously combined natural materials such as sandstone and wood with a profusion of verdant greenery. Earthy tones of terracotta tiles, green, grey, and white dominate the decor, creating a serene and inviting atmosphere.

“With Communion, we wanted to create something that Navi Mumbai has not seen before – a community space serving the best of F&B in a charming atmosphere. . Communion is created keeping the new-age diner in mind – it is a space which is all about community and bringing people together from all walks of life. With a line-up of events including musical evenings, open mics, creative writing camps and more – this place will welcome one and all.” said, Sameer Uttamsingh – Founder and Creative Director – Acme Hospitality Management & Consulting.

With celebrity chef Karishma Sakhrani heading the F&B curation, the menu is created keeping in mind diverse taste palettes along with sharing plates that offer something for all. From local favorities such as mini gun powder idlies, zingy chicken popcorn, chili cheese samosas and magic masala fries to loaded nachos, hummus with zataar chips or even a pav bhajji fondue to Karishma’s special Avacodo toast, Mushroom Whipped Feta, Croissant Sandwiches, and more;the versatile menu has a myriad of options to satiate every craving!

Talking about the menu, Kairshma Sakhrani, said, “The menu was created keeping the community ethos in mind. Inspired by global ingredients and keeping in mind local palettes, the menu brings together the best of comfort in a plate. With an emphasis on comfort and familiarity, the menu will offer something for all. We are excited to go beyond the ordinary and deliver a beverage culture that Navi Mumbai hasn’t seen yet – From freakshakes to well roasted coffees, from smoothies to boba teas, Communion is all set to become the next-favorite hangout spot in the area”

Communion’s interior is a testament to the power of minimalist elegance embracing the concept of “less is more.” The design team has meticulously combined natural materials such as sandstone and wood with a profusion of verdant greenery. Earthy tones of terracotta tiles, green, grey, and white dominate the decor, creating a serene and inviting atmosphere.

Located in the heart of Navi Mumbai, Communion’s doors are now open!

Address – D Y Patil Deemed to be University – Navi Mumbai, School of Biotechnology and Bioinformatics

L&T Finance partners with Ather Energy to offer up to 100 percent of Loan-to-Value (LTV) on Electric Vehicles (EV)

Mumbai, September 30, 2023: L&T Finance, a leading Non-Banking Financial Company (NBFC) hasa Two-Wheeler Finance business book size of Rs. 9,190 crore as on quarter ending June 2023. L&T Finance today announced its partnership with Ather EnergyIndia’s first intelligent electric vehicle manufacturer with presence in 100+ cities across the country.L&T Finance is amongst one of the leading financiers in the new Two-Wheeler segment and under the partnership, L&T Finance will provide up to 100% financing of the Loan-to-Value of the Electric Vehicles (EV) offered by Ather Energy to its customers. The amount of loan being financed will be on an On-road price basis i.e., inclusive ex-showroom, RegionalTransport Office(RTO), and insurance on the vehicle, and will be determined based on the credit profile of the customer.

Customers of Ather Energy can avail EV financing under various lines of products from L&T Finance like Verified Income Proof (VIP) Loan, VIP Pro Loan, Sabse Khaas Loan (SKL), SKL Pro, Centum Loan, and Express Loan. For all these products except for Express Loan, the customers can avail the loans at an annual rate of interest of 6.99% per annum. In case of Express Loan, a product for all, customers are not required to submit any credit profile or income proof,but the annual rate of interest is slightly higher at 7.99% per annum. All these offerings from L&T Finance have a TAT of under 5 minutes and are with a loan tenure ranging from 3 months to 48 months and the rate of interest is exclusively offered to the customers of Ather Energy.

Commenting on the partnership, Mr. Sanjay Garyali, Chief Executive – Urban Finance, L&T Finance, said, “We are excited to partner with Ather Energy and this partnership is a part of our Company’s shared commitment of providing mobility which helps in contributing towards the reduction of carbon footprint and making India a cleaner & greener country. Further, the partnership reinforces our focus on the fourth pillar within L&T Finance’s Lakshya 2026 strategy where under ESG and CSR whatever the Company does has to be environmentally responsible and sustainable.”

“For the Indian Two-wheeler segment, we expect strong growth across the industry. This growth is expected to be fuelled by improved purchasing power, increased dependence on personal mobility for millennials, and shifting preference towards vehicles powered by technology and artificial intelligence. Considering these aspects, it won’t be surprising to see the penetration of vehicle financing in India, which currently stands at around 60% and grow to 75% in the next few years,” Mr. Garyali added.

Mr. Ravneet Phokela, Chief Business Officer, Ather Energy said, “Ather has since inception, focused on building strong partnerships with banks, NBFCs etc to introduce lucrative EV financing for our users. In-fact today, more than 50% of Ather’s customers opt for vehicle financing as their preferred mode of purchasing our scooters. We are delighted that this collaboration with L&T Finance will allow us to further accelerate EV adoption by offering users multiple finance products to choose from, based on personal preferences. Their reach, credibility and expertise will be a huge asset as we expand our distribution footprint to more geographies.”

Details of the Loans

Adani Gangavaram Port inducts two advanced locomotives at the port

Visakhapatnam: September 30th, 2023: Adani Gangavaram Port, the deepest and the most modern port in the country today, announced the induction of two advanced locomotives WDG3A as part of the ongoing efforts to enhance capacity and productivity at the port . The addition of these locomotives represents a significant stride in improving the rail infrastructure within the port, aligning perfectly with the port’s commitment to provide top-tier logistics services.

Adani Gangavaram Port is investing significantly in expanding and enhancing the internal rail network. These state-of-the-art locomotives will play a pivotal role in streamlining cargo handling processes and advancing the development of a warehouse facility, complete with integrated rail capabilities, which will become operational in the coming months.

According to Adani Gangavaram Port Limited management “We are extremely delighted on the induction of our new locomotives. This exemplifies our commitment to enhancing efficiency and better serving our customers. These enhancements will elevate our operational standards and contribute to our mission of exceeding customer expectations. We at Adani Gangavaram Port offer substantial economic benefits to Indian importers combined with highly efficient port operations and evacuation system with faster turnaround time & delivery. We are happy to see the trade derive benefits of modern deep-water infrastructure.”

Cost Pressures, Viewer Expectations Play Prominently as M&E Businesses Seek Cloud Agility

Bengaluru, India — September 30, 2023 — Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today published a new research study examining the trends behind the Media and Entertainment (M&E) industry’s adoption of cloud technologies. The study, commissioned by Akamai and conducted by Forrester Consulting, surveyed 225 respondents from M&E businesses globally, the majority of whom either influence or have final decision-making authority over streaming architectures and/or cloud workflows within their organizations. The results showed that 73% of M&E businesses are considering moving away from large, legacy cloud providers in favor of more portable, cloud-native setups due to cost pressures, among other findings.

High customer expectations driving cloud adoption in the M&E sector

M&E businesses were early cloud adopters, with 92% of respondents reporting they are either “successful” or “very successful” with cloud-based technology, and 77% reporting their cloud journeys are progressing faster than expected. This uptake has been driven by high customer expectations, with 76% of those surveyed reporting their users expect zero downtime, buffering, or playback errors.

Looking ahead, however, the report highlighted concerns around the ability of existing cloud infrastructures to future-proof the M&E industry’s growth. According to the Forrester study, “M&E companies are reevaluating their cloud provider relationships, seeking trusted partners to overcome top challenges and accelerate content production.”

Business costs, data growth are top of mind for the M&E industry

Rising costs are having a notable impact on M&E businesses’ cloud strategies. Among respondents, 73% are considering moving away from traditional cloud providers due to cost pressures, while 63% report the costs are difficult for their business to manage long-term.

Increasing data volume is highlighted in the report as complicating respondents’ abilities to further adopt cloud infrastructures. Thirty-six percent anticipate more than 50% growth in data volume over the next three years, and 68% agree that data volume complicates infrastructure adoption.

“Cloud provider partners must evolve to meet M&E customers’ data demands,” according to the Forrester study. “As many consider refactoring their cloud provider relationships, they seek partners to meet them where they are and help with their cost, data egress, and hosting needs.”

Key cloud use cases

Storage is the most common streaming use case for cloud services, according to nearly 60% of respondents. Meanwhile, at least half of the organizations surveyed are also using the cloud for key functions like content protection (DRM/watermarking), billing and subscription management, and performance analysis.

“This research shows the dynamic nature of the workloads that M&E businesses are running on cloud services and infrastructures today. What’s more, the research also reveals that an impressive number of those businesses — half or more — are using the cloud for some of their most critical functions,” said Todd Loewenstein, Akamai senior manager of media industry marketing. “As more and more content becomes available to consumers through over-the-top (OTT) services, M&E businesses need to store and protect this content on a cloud that can scale with their changing needs.”

Competitive advantage

With M&E, and video streaming services in particular, becoming an increasingly crowded market, businesses are looking to cloud providers to help them improve the customer experience (CX) and retain a competitive advantage. Sixty percent said they have seen or would expect to see CX improvements thanks to cloud investments, and 59% have realized or would expect increased ability to generate and access real-time insights.

“The study helps quantify what we’re hearing from customers and prospects about the current state of their cloud journeys,” said Loewenstein. “They’re under huge pressures to deliver standout customer experiences while operating under intense budgetary constraints.”

“While these challenges are especially pronounced in M&E, they’re shared by businesses in other industries. This is one of the reasons Akamai is taking a fundamentally different approach to cloud computing,” Loewenstein added. “In introducing Akamai Connected Cloud earlier this year, we’ve designed cloud computing services that can help organizations break free of the traditional, centralized clouds, and start building on a more modern, distributed design, unlocking new flexibility and cost savings in the process.”