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For the past few months, tech companies have been drastically slashing valuations. Semiconductor startup Astera Labs is bucking that trend with $150 million in new venture funding at a valuation of $3.2 billion. The latest investment, led by mutual-fund giant Fidelity, more than triples Astera’s previous valuation of $950 million.
Santa Clara, California-based Astera had hoped to go public before year end, so the decision to stay private and raise more private capital represents an acknowledgement of just how much the market for tech companies has changed. “The market was starting to slow down, and we had two options, either still
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