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Astera Labs raises $50M in Series C at $950M valuation to continue its momentum and expand its focus to address connectivity bottlenecks throughout the data center.
Astera Labs, a connectivity solutions provider for intelligent systems, raised $50 million in an oversubscribed Series C funding round led at $950 million valuation by Fidelity Management and Research to accelerate product and customer momentum, a press release from Astera Labs said.
The Series B funding for Astera Labs came in April last year. With the close of this round, Astera has raised about $85 million from investors. Fidelity is joined by Atreides Management and Valor Equity Partners and other existing investors like Avigdor Willenz Group, GlobalLink1 Capital, Intel Capital, Sutter Hill Ventures and VentureTech Alliance.
Astera Labs, founded ini 2017, offers 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. Jitendra Mohan, CEO of Astera Labs, expressed delight at the investment and added that it cements the company’s position as a leader in cloud connectivity solutions.
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.Jitendra Mohan, CEO of Astera Labs
Astera stated that the proceeds from the funding would be used to continue its momentum and expand its focus to address connectivity bottlenecks throughout the data center. Avigdor Willenz, founding investor of Astera Labs, Annapurna Labs, Habana and other labs said,
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. 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,Avigdor Willenz, founding investor of Astera Labs, Annapurna Labs, Habana and other labs