What will Arduino do with an additional $22M?
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“We are proud to support the dimensional leap of Arduino, a unique global excellence in the democratization of open-source hardware and software”
Arduino raised an additional $22 million round, taking the Series B funding to $54 million, thanks to an expansion co-led by CDP Venture Capital and Anzu Partners. Joining them is semiconductor leader Arm, following up on earlier investments.
CDP Venture Capital, Italy’s largest VC firm, invested through Large Ventures, launched in 2023 to support the scaling up of Italian global category leaders. “We are proud to support the dimensional leap of Arduino, a unique global excellence in the democratization of open-source hardware and software,” said Mario Branciforti, Head of CDP Venture Capital SGR’s Large Ventures fund.
After the first $32 million Series B financing received in 2022, “This investment will allow us to further fuel our transformational platform initiative for professional customers, lowering the barriers to entry in IoT and AI by providing a continuum from hardware to Cloud,” says Arduino’s CEO Fabio Violante.
Want to know more about how the funds will be put to good use? A major chunk will be invested to further strengthen the R&D team based in Turin, Italy, with the goal to grow enterprise application libraries and the Arduino Cloud for Business with more integrations and embedded AI features.
Another consistent part is earmarked to help Arduino grow even more in the US, where Arduino recently opened an office in Austin, TX and bolstered its presence in Chicago, IL. Finally, it will use the additional funds to accelerate go-to-market initiatives and customer support in selected areas.
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