Astera Labs, a start-up jobs in Santa Clara, California, raised $50 million in an oversubscribed Series-C funding round for its silicon solutions for intelligent systems.
Astera Labs recently released the Aries Smart Retimer portfolio for Compute Express Link (CXL) 2.0 and PCI Express (PCIe) 5.0, enabling workload-optimized cloud platforms. The business also develops ASIC and module solutions to unlock complicated system topologies that are key to the mainstreaming of data-intensive applications like Artificial Intelligence and Machine Learning.
Fidelity Management and Research was the driving force behind the new funding. Atreides Management and Valor Equity Partners joined Fidelity in this fundraising round, with current investors Avigdor Willenz Group, GlobalLink1 Capital, Intel Capital, Sutter Hill Ventures, and VentureTech Alliance continuing to participate. Astera Labs has only raised $35 million in three years before this round.
“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.”
“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.”
Source: Converge! Network Digest