Astera Labs, a start-up based in Santa Clara, California, raised $150 million in Series-D funding with a $3.15B valuation for its data and memory connectivity solutions based on Compute Express Link (CXL), PCIe, and Ethernet technologies.
Fidelity led the funding round and was joined by other existing investors, including Atreides Management, Intel Capital, and Sutter Hill Ventures.
“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
“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.”
In addition, 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.
Alexis Black Bjorlin leads the Infrastructure Hardware team at Meta to drive technology innovation. She brings to Astera Labs expertise in hardware, semiconductors, and systems, and in scaling operations. Prior to Meta, Bjorlin held senior executive positions as SVP and GM of Broadcom’s optical systems division and as Corporate VP of the Data Center Group and GM of the Connectivity Group at Intel.
Michael Hurlston has served as President and CEO of Synaptics since 2019. Previously, he served as CEO and board member of Finisar Corporation and as SVP and GM of the Mobile Connectivity Products/Wireless Communications and Connectivity Division as well as other leadership positions at Broadcom. Astera Labs will be able to tap into Hurlston’s extensive semiconductor technology and business expertise.
“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.”
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