Aquantia gets $35M in Series D financing

The 10GBase-T PHY vendor got funding from New Enterprise Associates as well as existing investors Venture Partners, Greylock Partners, Pinnacle Ventures, and Venture Tech Alliance.

December 4, 200910GBase-T PHY developer Aquantia recently announced Series D financing that netted the company $35 million immediately and could reach up to $44 million in time. Venture capital firm New Enterprise Associates joined Aquantia’s previous investors to lead the latest series, the company said. According to Rohini Chakravarthy, partner at New Enterprise Associates and a new Aquantia board member, “Our strong presence in the data center arena has offered us a privileged view into the 10G Ethernet ecosystem, and Aquantia’s role in driving 10GBase-T adoption. We are very bullish on Aquantia’s prospects for sector leadership, in particular with the exciting upcoming transition to 10GBase-T LAN-on-motherboard [LOM] in servers.”

Aquantia president and chief executive officer Faraj Aalaei said, “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.”

Existing investors Lightspeed Venture Partners, Greylock Partners, Pinnacle Ventures, and Venture Tech Alliance also participated in this round.

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