Astera Labs valued at over $3 billion following its latest funding round
By MYBRANDBOOK
Astera Labs has declared that the company was valued at $3.15 billion following a late-stage funding round led by Fidelity Management & Research, signalling investors' bullishness on the semiconductor sector.
In the recent funding round the company collected $150 million amid upbeat long-term outlook for chips, especially as growth in artificial intelligence, Internet of Things and machine learning segments booms.
Berkshire Hathaway, which typically stays away from big technology wagers, said earlier this week it had bought more than $4.1 billion in TSMC stock.
This year California-based Astera Labs has added new products to its product portfolio and workforce, expanded its board of directors and also set up two new research and design centers in Vancouver and Toronto.
The company provides data and memory connectivity solutions and has partners like Intel , Taiwan Semiconductor Manufacturing Co Ltd (TSMC) , and Amazon.com's AWS.
Existing investors, including Atreides Management, Intel Capital and Sutter Hill Ventures also participated in the funding round.
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