ITALY – Arduino, an Italian founded open-source hardware company, raised additional $22M in Series B funding.
The round, which brought the total amount to $54M, was co-led by CDP Venture Capital and Anzu Partners. Joining them was semiconductor leader Arm.The latest capital supplements the $32m Series B financing – which was led by Robert Bosch Venture Capital (Bosch Ventures) and included Renesas Electronics.The company intends to use the funds to grow even more in the U.S., where it recently opened an office in Austin (Texas) and established a presence in Chicago (Illinois), while maintaining its European roots, with more than 130 people in Torino, Italy – half of which working on advanced R&D – and more than 30 people in Malmo, Sweden. Funds will be also invested to further strengthen the R&D team based in Torino, with the goal to grow enterprise application libraries and the Arduino Cloud for Business with more integrations and Embedded AI features, and to accelerate its go-to-market initiatives and customer support in selected high-potential geographies.Led by CEO Fabio Violante, and chairman and CMO Massimo Banzi, Arduino specializes in open-source hardware and software, designed from inception to provide an accessible platform and ecosystem for creativity and innovation. With over 30 million developers worldwide, its solutions offer an answer to the talent shortage in engineering and break free from vendor lock-in with a line of open-source products enabling IoT, automation, Industry 4.0 and machine learning at the edge. Engineers, designers, students and makers around the world are using Arduino to innovate in product development, education, industrial automation, smart homes, farming, fashion, music, autonomous vehicles and more. Earlier this year, Arduino launched the next generation of the maker flagship UNO R4 board, with an Arm®-based 32-bit Renesas microcontroller for new levels of performance and capacity. In the EDU market, schools worldwide integrated Arduino solutions in combination with Arduino Cloud for Education in their curricula to facilitate understanding the impact of real-world problems, such as climate change. In the enterprise market, sales for Arduino PRO products have doubled each year since their introduction in 2020, also thanks to the recent launch of new products like the OPTA microPLC.06/09/2023
