Santa Clara, Calif.-based data and memory connectivity solutions provider Astera Labs has raised $150 million in a Series-D funding round. The investment was led by Fidelity. Atreides Management, Intel Capital, and Sutter Hill Ventures also participated in the funding round.

In another development, Astera Labs has elected two new members to its board of directors Dr. Alexis Black Bjorlin, VP of Infrastructure, Meta, and Michael Hurlston, President, and CEO, Synaptics.

The latest funding pegs Astera Labs at a $3.51 billion valuation.

[Image courtesy: Astera Labs]