Astera Labs Raises $150M in Series D

Astera Labs, a Santa Clara, CA-based provider of chips to connect AI systems in the cloud, raised $150m in Series D funding with a $3.15B valuation.

The round was led by Fidelity Management and Research with participation from Atreides Management, Intel Capital, and Sutter Hill Ventures. Astera Labs has also added Dr. Alexis Black Bjorlin, VP of Infrastructure, Meta, and Michael Hurlston, President, and CEO, Synaptics Incorporated, to its board of directors.

The company, which has raised a total of $206.4m, to date, intends to use the funds to expand operations and its business reach, with new research and development centers in Toronto and Vancouver, Canada.

Led by Jitendra Mohan, CEO, Astera Labs is a leader in purpose-built data and memory connectivity solutions to remove performance bottlenecks throughout the data center. The company has developed three products to enable higher bandwidth, increased memory capacity and robust connectivity for datacenters through Compute Express Link™ (CXL™), PCIe®, and Ethernet technologies. Its newest 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 enable mainstreaming of Artificial Intelligence and Machine Learning in the Cloud.