Astera Labs, Inc.

Astera Labs was founded in November 2017 in Santa Clara, California, by Jitendra Mohan, Sanjay Gajendra, and Casey Morrison. While working at Texas Instruments, the co-founders observed that while processors used in data centers were getting faster, the connectivity technologies were not keeping pace, resulting in bottlenecks. The trio quit their jobs and founded Astera in Sanjay Gajendra's garage. They adopted a fabless semiconductor model, outsourcing manufacturing to partners such as TSMC.

In April 2022, the company opened a research and development design center in Markham, Ontario. It opened another design center in Burnaby, British Columbia, in September 2022.

In May 2024, the company expanded operations in Taiwan to strengthen collaboration with original design manufacturers.

In September 2024, the company opened a research and development design center in Bengaluru, India.

In June 2025, the company relocated its headquarters to San Jose, California, tripling its size.

In January 2026, the company acquired aiXscale Photonics.

In February 2026, the company opened a design centre in Tel Aviv and offices in Ramat Gan and Haifa. It also paid approximately $70 million to form a partnership with Pliops, in which 60 employees moved from Pliops to Astera Labs.

Funding history

In March 2018, the company raised $8.5 million in a Series A round, selling shares for $0.20 each and valuing the company at $19 million. Investors included Avigdor Willenz, Intel Capital, Ron Jankov, and Sutter Hill Ventures.

In April 2020, the company raised $26 million in a Series B round, selling shares for $0.78 each and valuing the company at $107 million. Investors included Avigdor Willenz, Intel Capital, Ron Jankov, and Sutter Hill Ventures.

In September 2021, the company raised $52 million in a Series C round, selling shares for $6.72 each and valuing the company at $950 million. Investors included Avigdor Willenz, Intel Capital, Ron Jankov, and Sutter Hill Ventures as well as Valor Equity Partners, Venturetech Alliance, and Atreides Management.

In November 2022, the company raised $150 million in a Series D round, selling shares for $20.34 each and valuing the company at $3.16 billion. Investors included Atreides Management, Fidelity Investments, Intel Capital, and Sutter Hill Ventures.

In March 2024, the company became a public company via an initial public offering, raising $713 million by selling shares for $36 each.