Network chip startup Astera raises $50 million, approaches ‘unicorn’ status

Network chip startup Astera raises $50 million, approaches ‘unicorn’ status

Business news |
By Peter Clarke

Despite only raising $35 million prior to the latest round the company already has a series of PCIe and CXL retime products in the market.

The Series C brings the company’s post-money valuation to $950 million. The investors in the company include Fidelity Management and Research, Atreides Management and Valor Equity Partners, Avigdor Willenz Group, GlobalLink1 Capital, Intel Capital, Sutter Hill Ventures, and VentureTech Alliance.

The Series C round follows the launch of the Aries smart retimer portfolio for Compute Express Link (CXL) 2.0 and PCI Express (PCIe) 5.0 that enable workload-optimized platforms in the cloud.

“CXL has opened a new era of data center system architecture that is critical to realize the vision of AI in the cloud,” said Sanjay Gajendra, chief business officer for Astera Labs, in a statement. “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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