Semiconductor startup Aquantia closes $16M in funding amid US IPO prep

By VCPOST Staff Reporter

Mar 18, 2014 07:25 AM EDT

Aquantia Corp has nabbed $16 million in its Xilinx Inc-led Series G financing round. The company is also preparing for a rare initial public offering (IPO) in the US, which is rare for the semiconductor sector, according to The Wall Street Journal.

Existing investors new Enterprise Associates, Greylock Partners, Pinnacle Ventures, Rusnano, and Lightspeed Venture Partners also contributed to the funding round. Strategic investors including integrated storage circuit maker LSI Corp also participated. The latest funding brought Aquantia's total raised capital to $160 million, the report detailed.

Converge! Network Digest cited Aquantia president and Chief Executive Officer (CEO) Faraj Aalaei saying: "This is what pre-IPO companies dream of; a strong technology play that delivers successive generations of very large revenue opportunities. We have the technology and market leadership, the strong support of our investors, and are now proudly adding Xilinx to the list of our backers. Everything is aligned for a successful expansion of our business."

Aquantia is currently headquartered in Milpitas, California. The startup recently released a new generation of integrated circuits that could enable data centers and cloud service providers to obtain higher-speed Internet connections, the report added.

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