diff --git a/chart/Chart.yaml b/chart/Chart.yaml
index 8501289a..3f9f786b 100644
--- a/chart/Chart.yaml
+++ b/chart/Chart.yaml
@@ -12,17 +12,17 @@ keywords:
   - monitoring
   - tracing
   - opentelemetry
-version: 20.7.0
+version: 20.8.0
 # TODO(paulfantom): Enable after kubernetes 1.22 reaches EOL (2022-10-28)
 # kubeVersion: ">= 1.23.0"
 dependencies:
   - name: timescaledb-single
     condition: timescaledb-single.enabled
-    version: 0.27.4
+    version: 0.30.0
     repository: https://charts.timescale.com
   - name: promscale
     condition: promscale.enabled
-    version: 14.6.1
+    version: 14.7.0
     repository: https://charts.timescale.com
   - name: kube-prometheus-stack
     condition: kube-prometheus-stack.enabled
@@ -30,5 +30,5 @@ dependencies:
     repository: https://prometheus-community.github.io/helm-charts
   - name: opentelemetry-operator
     condition: opentelemetry-operator.enabled
-    version: 0.20.4
+    version: 0.21.2
     repository: https://open-telemetry.github.io/opentelemetry-helm-charts
diff --git a/chart/values.yaml b/chart/values.yaml
index 4ee5e2b3..2bacd393 100644
--- a/chart/values.yaml
+++ b/chart/values.yaml
@@ -82,7 +82,7 @@ promscale:
   enabled: true
   image:
     repository: timescale/promscale
-    tag: 0.16.0
+    tag: 0.17.0
     pullPolicy: IfNotPresent
   # to pass extra args
   extraArgs:
@@ -399,7 +399,7 @@ opentelemetry-operator:
       enabled: true
   instrumentation:
     pythonImage: ghcr.io/open-telemetry/opentelemetry-operator/autoinstrumentation-python:0.32b0
-    javaImage: ghcr.io/open-telemetry/opentelemetry-operator/autoinstrumentation-java:1.21.0
+    javaImage: ghcr.io/open-telemetry/opentelemetry-operator/autoinstrumentation-java:1.22.1
     nodejsImage: ghcr.io/open-telemetry/opentelemetry-operator/autoinstrumentation-nodejs:0.34.0
   collector:
     # The default otel collector that will be deployed by helm once