Aquantia, a US-based developer of high-speed Ethernet technology, has raised $16m in a series G round led by programmable logic device maker Xilinx.
Undisclosed existing investors also provided capital in the round. Aquantia has now received $154m in funding since it was founded in California in 2004.
The company’s existing investors include electronics company LSI, venture capital firms Lightspeed Venture Partners, Greylock Partners and New Enterprise Associates, VC fund Pinnacle Ventures, VC investment manager VentureTech Alliance and RUSNANO Capital, the subsidiary of Russian government-owned investment company RUSNANO.
Aquantia produces high-speed Ethernet connectivity products that serve data centres, mobile and business infrastructure. Xilinx previously invested in Oasys Design Systems, an electronic design automation company, alongside corporate venturing unit Intel Capital in July last year.
“This is what pre-IPO companies dream of; a strong technology play that delivers successive generations of very large revenue opportunities,” said Faraj Aalaei, Aquantia’s CEO. “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.”