We’re completely happy to announce that Arduino raised an extra $22 million spherical, taking our Sequence B funding to $54 million, because of an growth co-led by CDP Enterprise Capital and Anzu Companions. Becoming a member of them is semiconductor chief Arm, following up on earlier investments.
CDP Enterprise Capital, Italy’s largest VC agency, invested by way of Massive Ventures, launched in 2023 to help the scaling up of Italian international class leaders. “We’re proud to help the dimensional leap of Arduino, a singular international excellence within the democratization of open-source {hardware} and software program,” mentioned Mario Branciforti, Head of CDP Enterprise Capital SGR’s Massive Ventures fund.
After the primary $32 million Sequence B financing obtained in 2022, “This funding will enable us to additional gas our transformational platform initiative for skilled prospects, decreasing the boundaries to entry in IoT and AI by offering a continuum from {hardware} to Cloud,” says Arduino’s CEO Fabio Violante.
Wish to know extra about how the funds might be put to good use? A serious chunk might be invested to additional strengthen the R&D group primarily based in Turin, Italy, with the objective to develop enterprise software libraries and the Arduino Cloud for Enterprise with extra integrations and embedded AI options. One other constant half is earmarked to assist Arduino develop much more within the US, the place we just lately opened an workplace in Austin, TX and bolstered our presence in Chicago, IL. Lastly, we are going to use the extra funds to speed up go-to-market initiatives and buyer help in chosen areas.
“Arduino got here a great distance from its humble starting, turning into a strong industrial software utilized by cutting-edge organizations all around the world. I’m honored by this funding which is an extra affirmation that our unique method retains making use of to new domains.”
— Massimo Banzi, Arduino’s co-founder, chairman and CMO
This continued and increasing confidence from traders displays the standard of the work we’ve been capable of do, constructing a world firm primarily based on the robust values we share with each person in our wonderful neighborhood.
In line with Jimmy Kan, Companion at Anzu Companions, “The enterprise ecosystem is on the cusp of a seismic transformation, pushed by the convergence of environment friendly AI and IoT on the edge. Arduino stands on the coronary heart of this revolution, and their dedication to innovation guarantees to redefine the trade norms.” Making expertise accessible stays our mission, as a result of the important thing to our success is empowering customers: “Arduino helps an intensive neighborhood of builders who play a vital function in accelerating the deployment of latest computing options for IoT functions,” says Paul Williamson, senior vice chairman and normal supervisor, IoT Line of Enterprise at Arm.
Amidst nice change, we take our function as enablers of innovation severely, and try to leverage each useful resource we are able to entry to develop our platform, sustain our ahead momentum, and all the time improve our service to you – so you may create the world we are going to dwell in.
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