Astera Labs, a Santa Clara-based semiconductor company, is building on its recent growth.
The company develops data and memory chips that work to help organizations run compute-intensive workloads for artificial intelligence and machine learning applications. After launching new products and expanding its reach, Astera Labs’ latest development is a fresh round of funding.
The company announced Thursday a $150 million round of Series D capital. Fidelity Management & Research led the round, bringing Astera Labs’ valuation to $3.15 billion. Investors including Atreides Management, Intel Capital and Sutter Hill Ventures also participated in the round.
“Astera Labs continues to surpass every milestone for a technology startup, and we are now deep into the next stage of evolution for our company as we accelerate growth,” Jitendra Mohan, Astera Labs’ co-founder and CEO, said in a statement. “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.”
Astera Labs’ latest round comes on the heels of various growth developments. The company recently added new products to its portfolio of silicon, software and system-level connectivity solutions for data centers. Over the past five years, Astera Labs released its existing products that work to enable higher bandwidth, larger memory capacity and stronger connectivity.
The Leo Memory Connectivity platform, the company’s latest product offering, serves to support data centers through the transition to new computing architectures, including heterogeneous computing. This describes systems that function using more than one kind of processor. Astera Labs’ new product line also aims to enable more AI and machine learning-powered cloud app development.
In addition to expanding its product suite, Astera Labs grew its geographic footprint to six global locations. The company built two new research and design centers in Canada this year, and is looking to further its presence in North America and Asia.
Astera Labs actively hiring for a range of engineering and product positions for its West Coast office.
