Astera Labs Closes $150M Series-D to Bring AI and ML to the Cloud
Astera Labs closed $150M in a Series-D, expanded their board of directors, and are adding new product lines — along with new locations and increasing their employee base word-wide.
This latest round, led by Fidelity Management and Research, values the firm at around $3.15 billion. Existing investors, to include Atreides Management, Intel Capital, and Sutter Hill Ventures participated as well. The company reportedly shelved a planned IPO due to market conditions.
“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.” CEO Jitendra Mohan said in a company release.
Astera Labs provides data and memory connectivity solutions designed to improve data center performance by reducing bottlenecks, and is quickly becoming a trusted connectivity partner in the Cloud industry by helping companies realize the vision of AI and ML in the Cloud.