Aquantia, a developer of silicon products for high-speed connectivity, has completed a Series D financing of $35 million immediately with up to $44 million over time. New Enterprise Associates (NEA) led the round, with participation from Aquantia’s existing investors including Lightspeed Venture Partners, Greylock Partners, Pinnacle Ventures, and Venture Tech Alliance.
Aquantia, the leading developer of mainstream 10GBASE-T PHY solutions, has just completed its Series D financing, bringing $35 million immediately and up to $44 million in time to the company. This fresh injection of capital enables scaling of Aquantia’s product portfolio to fully serve the accelerated transition to 10G Ethernet in Enterprise and Data Center markets.
New Enterprise Associates (NEA) led the round, with participation from Aquantia’s existing investors including Lightspeed Venture Partners, Greylock Partners, Pinnacle Ventures, and Venture Tech Alliance. In conjunction with the financing, NEA Partner Rohini Chakravarthy will join the board of directors.
“NEA’s strong presence in the enterprise and infrastructure areas has offered us a privileged view into the 10G Ethernet ecosystem,” said Ms. Chakravarthy. “We are impressed with Aquantia’s team and execution and are very bullish on Aquantia’s prospects for sector leadership.”
Faraj Aalaei, CEO and president of Aquantia, commented, “The size of the round and the addition of NEA as a new investor are an outstanding vote of confidence for both Aquantia and for the industry, especially given the financial market’s dynamics this year. We believe this financing validates our technology leadership, our business plan and sets Aquantia apart from our privately funded competitors. Aquantia is very well-positioned to enable widespread adoption of 10GBASE-T in switches, NIC cards and LAN-on-Motherboard (LOM) in servers.”
“IDC believes that corporations worldwide will accelerate their IT spending in the second half of 2010,” said Shane Rau, Research Director in Computing, Networking, and Storage Semiconductors, IDC. “Due to factors like lower component pricing and the move to virtualization in the data center, 10 Gigabit Ethernet will benefit significantly. Specifically, IDC predicts that the revenue in the emerging NIC/LOM semiconductor segment of the 10GE market will grow at a CAGR over 50% from 2007 through 2012.”
In May 2009 Aquantia announced the validation in 40nm of the world’s first quad 10GBASE-T IC, to deliver the critical power, density and cost performance levels needed by the data center ecosystem. Aquantia’s current and newest generations of 10GBASE-T products have brought together the benefits of high-energy efficiency and high density for LOM and high-density switching implementations.
With its 10GBASE-T silicon products for mainstream high-speed connectivity, Aquantia meets business needs for efficiency, lower Total Cost of Ownership (TCO), productivity and easy-to-use network infrastructure. The company’s versatile technology platform is based on advanced signal processing, while fully leveraging the maturity of Ethernet and offering the universal appeal of the RJ45. Aquantia ICs connect multi-core data centers, applications-optimized workgroup computing and virtual server networks with one flexible low-cost and standards based architecture. Aquantia is a venture-backed private company. For more information, visit www.aquantia.com.