Venture Capital: Astera Labs Lands $150M At $3.15B Valuation

November 22, 2022 | News, Venture Capital

Astera Labs creates purpose-built data and memory connectivity chips and plug-and-play solutions to address bandwidth, capacity, and performance bottlenecks in today’s data centers.

Astera Labs announced a $150 million Series D funding round led by Fidelity Management and Research that valued the company at $3.15 billion. Other existing investors, including Atreides Management, Intel Capital, and Sutter Hill Ventures also participated in the round. Astera said it had expanded both its board of directors as well as its product lineup. (GlobeNewsWire)

The company’s applications and products are instrumental for AI and Machine Learning in the Cloud. The company has already introduced three innovative products that enable higher bandwidth, increased memory capacity and robust connectivity for datacenters.

The company said in a release that its latest product line, the Leo Memory Connectivity Platform, “leverages the new CXL industry standard to support the transition to heterogeneous and composable architectures for next-gen data centers and enables mainstreaming of Artificial Intelligence and Machine Learning in the Cloud.”

Stefan Dyckerhoff, Managing Director at Sutter Hills Ventures, and Board Member of Astera Labs said: “I’m extremely impressed by the company’s ability to assert itself as the leader in the Cloud infrastructure market that increasingly demands purpose-built connectivity solutions to remove performance bottlenecks.”

Astera Labs also expanded its board of directors to include Dr. Alexis Black Bjorlin, VP of Infrastructure, Meta, and Michael Hurlston, President, and CEO, Synaptics Incorporated.

Related Story: US Government Bans Export Of High-Performance AI Chips To China By AMD and Nvidia

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