Astera Labs Secures $50M in Series-C Funding at a $950M Valuation to Accelerate Product and Customer Momentum
New funding round endorses company’s efficient execution track record and market leadership position in purpose-built connectivity solutions for intelligent systems.
SANTA CLARA, Calif.–(BUSINESS WIRE)–September 27, 2021–
Astera Labs, the industry leader for connectivity solutions for intelligent systems, today announced raising $50M as part of an oversubscribed Series-C funding round led by Fidelity Management and Research. Fidelity was joined in this funding round by Atreides Management and Valor Equity Partners, with continued participation from existing investors Avigdor Willenz Group, GlobalLink1 Capital, Intel Capital, Sutter Hill Ventures, and VentureTech Alliance. Prior to this round, Astera Labs raised only $35M over three years, which is a testament to the company’s innovative and nimble team, highly efficient operations, and unwavering customer focus.
“We are thrilled to join forces with Fidelity, Atreides, and Valor to cement our leadership position in intelligent cloud connectivity solutions and usher Astera Labs into the next growth phase of our company,” said Jitendra Mohan, CEO, Astera Labs. “With this investment and increased collaboration with our manufacturing partners, we will rapidly scale our worldwide operations to satisfy incredible customer demand and launch multiple new product lines to solve the industry’s most pressing connectivity challenges.”
The Series-C funding round comes on the heels of Astera Labs’ success launching the Aries Smart Retimer portfolio for Compute Express Link™ (CXL™) 2.0 and PCI Express® (PCIe®) 5.0 that enable workload-optimized platforms in the cloud. The company plans to continue this momentum with an expanded focus to address connectivity bottlenecks throughout the data center with purpose-built ASIC and module solutions that unlock complex system topologies critical to mainstreaming data-intensive applications such as Artificial Intelligence and Machine Learning.
“CXL has opened a new era of data center system architecture that is critical to realize the vision of AI in the cloud,” said Sanjay Gajendra, Chief Business Officer, Astera Labs. “We are leading the industry with design wins at the five most significant CPU/GPU/AI processor platforms in the world and the majority of Cloud customers. This positions us well to capitalize on CXL’s exciting new capabilities for cache-coherent and memory interconnects.”
“Astera Labs has done a tremendous job in developing a portfolio of multiple innovative products that address critical needs of heterogeneous computing and composable disaggregation infrastructure,” said Avigdor Willenz, founding investor of Astera Labs, Annapurna Labs, Habana Labs, and many others. “We are very pleased to see the strong execution track record and rapid value creation by Astera Labs, which has opened multiple options including an IPO in the future.”
“We are very excited with the growth and expansion of Astera Labs and remain highly optimistic about the long-term potential of the company,” said Stefan Dyckerhoff, Managing Director at Sutter Hills Ventures and Board Member of Astera Labs.
To support the rapidly growing product portfolio and operations, Astera Labs is hiring for several positions in North America and Asia.
About Astera Labs
Astera Labs Inc., a fabless semiconductor company headquartered in the heart of California’s Silicon Valley, is a leader in purpose-built connectivity solutions for data-centric systems throughout the data center. The company’s product portfolio includes system-aware semiconductor integrated circuits, boards, and services to enable robust CXL/PCIe connectivity. For more information about Astera Labs including open positions visit www.AsteraLabs.com.
Compute Express Link™ and CXL™ are trademarks of the CXL™ Consortium.
PCI Express® and PCIe® are trademarks or registered trademarks of PCI-SIG.
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