Electronic Design

Aquantia Closes $21M Series E to Expand 10GBASE-T Deployment

MILPITAS, CAAquantia, a leading developer of 10Gigabit Ethernet connectivity solutions for cloud computing and large scale data center deployments, has announced that it has closed its latest round of financing. The $21 million series E funding will help the company scale its operation in response to increasing demand for its 40nm 10GBASE-T PHY solution in this fast growing market segment. All existing investors participated in this round, including New Enterprise Associates, Lightspeed Venture Partners, Greylock Partners, Pinnacle Ventures and Venture Tech Alliance.

“Aquantia has demonstrated technology leadership with their innovative architecture and outstanding performance,” said Jeff Richardson, executive vice president and chief operating officer of LSI Corporation, a new strategic investor for this round. “As a leading provider of silicon solutions that enable storage and networking applications, we believe that 10GBASE-T technology will play an important role in the enterprise and that Aquantia is well positioned to further the deployment of solutions in this growing market.”

Faraj Aalaei, CEO and president of Aquantia, added, “The renewed confidence from our investors, as well as the addition of new strategic partnerships as part of this round strengthen Aquantia’s position as the emerging leader in this coveted market segment. We’re delighted that demand is growing in markets such as cloud computing where the power and cost efficiencies of our solution are critical, and look forward to scale the company for volume delivery to fulfill customer orders worldwide.”

Phil Delansay, vice president of business development of Aquantia will expand on the company’s plans and market trends in the upcoming Morgan Keegan Half Moon Bay Tech Conference, June 20-22, 2011.

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