Le Lézard
Classified in: Science and technology, Business
Subjects: FINANCING AGREEMENTS, BOARD OF DIRECTORS

Astera Labs Accelerates Company Growth with Series-D Funding and Expanded Board of Directors


Company growth highlights

SANTA CLARA, Calif., Nov. 17, 2022 (GLOBE NEWSWIRE) -- Astera Labs, the industry leader for connectivity solutions for intelligent systems, today shared its progress and momentum to position the company for its next phase of growth. Astera Labs closed its Series-D funding round, expanded its board of directors, added new product lines to its portfolio, and grew its presence globally with new locations and an increased employee base. These milestones represent the strong traction for Astera Labs' silicon, software, and system-level solutions that help its customers realize the vision of Artificial Intelligence and Machine Learning in the Cloud.

"Astera Labs continues to surpass every milestone for a technology start-up, and we are now deep into the next stage of evolution for our company as we accelerate growth," said Jitendra Mohan, CEO, Astera Labs. "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."

In its Series-D funding round led by Fidelity Management and Research, Astera Labs raised $150M with a $3.15B valuation. Fidelity was joined by other existing investors, including Atreides Management, Intel Capital, and Sutter Hill Ventures.

"Astera Labs has successfully executed on its vision to be the Cloud industry's trusted connectivity partner," said Stefan Dyckerhoff, Managing Director at Sutter Hills Ventures, and Board Member of Astera Labs. "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 expands Board of Directors with top executives
Astera Labs has elected to its board of directors Dr. Alexis Black Bjorlin, VP of Infrastructure, Meta, and Michael Hurlston, President, and CEO, Synaptics Incorporated.

"I am pleased to welcome these visionary leaders to the Astera Labs' Board of Directors," said Manuel Alba, Chairman of the Board, Astera Labs. "Their passion for transformative technology, combined with expertise in semiconductors, cloud, and the data center industry, will add valued insights to the board and help Astera Labs continue to scale."

In a short period of five years, Astera Labs has developed three class-defining, first-to-market products to enable higher bandwidth, increased memory capacity and robust connectivity for datacenters through Compute Express Linktm (CXLtm), 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.

In 2022, the company also added two new Research and Design Centers in Vancouver and Toronto, Canada, bringing its global footprint to six locations. The new locations enable Astera Labs to hire from Canada's deep technology talent base to drive product development, customer support, and marketing.

To support its rapidly growing product portfolio and operations, Astera Labs is hiring for several positions in North America and Asia. The team includes industry veterans with deep experience in connectivity products, protocols, customer-centric design, and high-volume manufacturing. To view open positions and apply, visit www.AsteraLabs.com/Careers/.

About Astera Labs
Astera Labs Inc. is a leader in purpose-built data and memory connectivity solutions to remove performance bottlenecks throughout the data center. With locations worldwide, the company's silicon, software, and system-level connectivity solutions help realize the vision of Artificial Intelligence and Machine Learning in the Cloud through CXLtm, PCIe®, and Ethernet technologies. For more information about Astera Labs including open positions, visit www.AsteraLabs.com.

CONTACT: Lori Zielinski
lori.zielinski@asteralabs.com



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