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Astera Labs received US$50 million in Series C financing, accelerating product and customer development momentum with a valuation of US$950 million

By ET Bureau - October 11, 2021 3 Mins Read

Astera Labs received US_50 million in Series C financing_ accelerating product and customer development momentum with a valuation of US_950 million-01

Intelligent Systems Connectivity Solutions industry leader Astera Labs announced the C round of financing raised by the Fidelity Management and Research oversubscribed lead investor in 50 million Dollar. Fidelity and Atreides Management and Valor Equity Partners joined this round of financing. Existing investors Avigdor Willenz Group, GlobalLink1 Capital, Intel Capital, Sutter Hill Ventures and VentureTech Alliance also participated in the round. Prior to this round of financing, Astera Labs had only raised $35 million in three years, which fully proved the innovation and agility of the company’s team, the efficiency of operations and the adherence to the customer-oriented philosophy.

Jitendra Mohan, CEO of Astera Labs, said: “We are very pleased to be able to establish cooperation with Fidelity, Atreides and Valor to consolidate our leading position in smart cloud connectivity solutions and lead Astera Labs to the next stage of the company’s development. This investment, coupled with closer cooperation with our production partners, will rapidly expand the scale of global operations to meet the needs of a large number of customers. At the same time, we will launch a variety of new product series to solve the most demanding connectivity challenges in the industry. ”

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Before the C round of financing, Astera Labs successfully launched the Aries Smart Retimer product portfolio for Compute Express Link™ (CXL™) 2.0 and PCI Express ® (PCIe ® ) 5.0, enabling cloud workload optimization platforms. The company plans to continue to maintain its development momentum, broaden its development focus, break through data center connection bottlenecks through specially constructed ASIC and module solutions, and unlock complex system topologies, which are essential for mainstream data-intensive applications such as artificial intelligence and machine learning.

Sanjay Gajendra, Chief Commercial Officer of Astera Labs, said: “CXL ushered in a new era of data center system architecture, which is critical to realizing the vision of cloud AI. In the world’s top five CPU/GPU/AI processor platforms and most cloud customer project applications, We lead the industry. This gives us a good position in CXL’s exciting new capabilities for cache coherency and memory interconnection.”

Avigdor Willenz, the founding investor of companies such as Astera Labs, Annapurna Labs, and Habana Labs, said: “Astera Labs has done a great job and successfully developed a variety of innovative product portfolios that solve the key to heterogeneous computing and composable and decomposable infrastructure. Demand. We are very pleased to see that Astera Labs’ internal execution is so efficient and value is created so quickly, they will have more possibilities in the future, including IPOs.”

Stefan Dyckerhoff, general manager of Sutter Hills Ventures and member of the Astera Labs board of directors, said: “Astera Labs’ growth is very exciting for us, and we are still highly optimistic about the company’s long-term development potential.”

In order to support the rapid development and operation of a series of products, Astera Labs has related positions that are recruiting in North America and Asia.

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ET Bureau

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