The funding round, led by Fidelity Management and Research, saw the participation of the company’s other existing investors including Intel Capital, Atreides Management, and Sutter Hill Ventures
Astera Labs has raised $150m in Series D funding round. (Credit: Gerd Altmann from Pixabay)
Astera Labs, a US-based provider of connectivity solutions for intelligent systems, has raised $150m in a Series D funding round at a valuation of $3.15bn.
The funding round was led by Fidelity Management and Research.
Astera Labs’ other existing investors including Intel Capital, Atreides Management, and Sutter Hill Ventures participated in the financing round.
In addition to the closing of the firm’s Series D funding round, Astera Labs announced the expansion of its board of directors and addition of new product lines to the company’s portfolio.
The company also aims to expand its presence worldwide with new locations and an increased employee base.
Astera Labs CEO Jitendra Mohan said: “Astera Labs continues to surpass every milestone for a technology start-up, and we are now deep into the next stage of evolution for our company as we accelerate growth.
“This latest funding round is a testament that we are not only invested in the right growth markets such as Cloud, Artificial Intelligence/Machine Learning, and Hyperscale infrastructure, but that we are also able to consistently execute and deliver breakthrough connectivity products that are critical to our customers and partners.”
As a part of its global expansion, Astera Labs added two new research and design centres in Vancouver and Toronto this year.
Astera Labs claims that its silicon, software, and system-level solutions help its customers realise the potential of artificial intelligence (AI) and machine learning in the cloud.
The company’s newest product line, the Leo memory connectivity platform, utilises the new Compute Express Link (CXL) industry standard to support the shift to heterogeneous and composable architectures for next-generation data centres.
The Leo memory connectivity platform is also said to enable the mainstreaming of AI and machine learning in the cloud.