$50m for CXL, PCIe 5.0 retimer chip designer

$50m for CXL, PCIe 5.0 retimer chip designer

Business news |
By Nick Flaherty

The Series C round for Astera Labs in California was led by Fidelity Management and Research with Atreides Management and Valor Equity Partners, with continued participation from existing investors Avigdor Willenz Group, GlobalLink1 Capital, Intel Capital, Sutter Hill Ventures, and VentureTech Alliance.

Prior to this funding round, Astera Labs had raised $35m over three years and launched the Aries Smart Retimer portfolio for Compute Express Link (CXL) 2.0 and PCIe 5.0 for higher speed links in cloud computing.

The company plans to address connectivity bottlenecks throughout the data centre with purpose-built ASICs and modules for Artificial Intelligence and Machine Learning.

“CXL has opened a new era of data centre system architecture that is critical to realize the vision of AI in the cloud,” said Sanjay Gajendra, Chief Business Officer, Astera Labs. “We are leading the industry with design wins at the five most significant CPU/GPU/AI processor platforms in the world and the majority of Cloud customers. This positions us well to capitalize on CXL’s exciting new capabilities for cache-coherent and memory interconnects.”

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“Astera Labs has done a tremendous job in developing a portfolio of multiple innovative products that address critical needs of heterogeneous computing and composable disaggregation infrastructure,” said Avigdor Willenz, founding investor of Astera Labs, Annapurna Labs, Habana Labs, and many others. “We are very pleased to see the strong execution track record and rapid value creation by Astera Labs, which has opened multiple options including an IPO in the future.”

“With this investment and increased collaboration with our manufacturing partners, we will rapidly scale our worldwide operations to satisfy incredible customer demand and launch multiple new product lines to solve the industry’s most pressing connectivity challenges,” said Jitendra Mohan, CEO, Astera Labs.

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