Semiconductor developing company Astera Labs raises $50 million in its series C funding round led by Fidelity Management and Research. Other investors like Valor Equity Partners, Atreides Management, Avigdor Willenz Group, GlobalLink Capital, VentureTech Alliance, and Sutter Hill Ventures also participated in the funding round.
Astera Labs wants to use this fresh funding to further expand their product range and increase market share. The company also plans to run extensive recruitment drives in the United States and Asia to hire new talents for boosting its operations and product development process.
The new funding round follows the successful launch of Astera Labs’s Compute Express Link 2.0 and PCI Express 5.0 that enables users to optimize workflow in the cloud.
The CEO of Astera Labs, Jitendra Mohan, said, “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.”
He further added that he is extremely excited to join hands with the investors to maintain their leading position in the intelligent cloud connectivity domain.
San Francisco-based startup Astera Labs was founded by Jitendra Mohan, Casey Morrison, and Gajendra Akkasalamakki in the year 2017. The company specializes in developing purpose-built cloud connectivity solutions for data-centric systems.
Astera Labs has developed a lot of products, including integrated circuits, services to enable CXL/PCIe connectivity, and many more. The startup has raised a total funding of $56.4 over three funding rounds till date.
“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,” said the Co-founder and Chief Business Officer of Astera Labs Gajendra Akkasakamakki.
According to the founding investor of Astera Labs, Avigdor Willenz, the company might also plan for its initial public offering (IPO) in the near future.