50 million in a matter of months. Money raised in two investment rounds arrived within a short distance of each other, confirming Arduino as an Italian innovation excellence. Capable of conquering foreign countries, expanding overseas, while maintaining its heart and intelligence in Turin. Here, in the Arduino Workshops, 130 people work on research and development of the open source electronic platform which has made it easier for everyone to access automation technologies, such as robotics and home automation.
Arduino enters the radar of Cdp Venture Capital
The latest investment was made official at the beginning of September. Cdp Venture Capital also invested in the company founded in 2005 in Ivrea. It did so with a recently created fund: Large Venture, intended to support the global growth of innovative Italian companies that have already become leaders in their sector. Arduino – the fund’s first investment – was already among the ideal candidates: “Somehow we entered the radar of Cdp Venture Capital. They contacted us some time ago, we had a few meetings, and we received an investment proposal together with the US fund Anzu”, comments Massimo Banzi, co-founder of Arduino, to La Stampa.
The radar worked. Banzi will be present at the Italian Tech Week on September 28th in a panel on what an entrepreneur learns from his mistakes. “It is interesting that Cdp Venture Capital has launched this fund to help innovative Italian companies grow on international markets. It is fundamental in the development of a company. We are already present on the American market and will further expand our presence. The rest was done by complete alignment on all issues, our principles and theirs,” he adds.
Offices in Malmo and Austin, but research and development in Turin
Arduino today has an office in Malmö, Sweden, where it works mainly on school projects. While in the United States it is present in Austin (Texas) and Chicago (Illinois): “Offices created primarily for sales. We work with large companies, but also companies in specific sectors such as packaging or medical,” explains Banzi. But the development of Arduino boards remains in Italy. CDP’s investment would not have been possible otherwise. “In the contract there is a part that clearly requires that the development be done in Italy, and our intention is to continue doing it here,” he adds.
In Piedmont, in Turin, where engineering is among the world‘s best. Where Arduino was born, the result of skills that have their roots in decades of history. “We strongly believe that an excellent R&D team and impeccable customer support are the only recipe for our customers’ success, therefore ours,” commented Arduino CEO, Fabio Violante. Arduino is a model. An expanding network. One piece of data explains it well: today 680,000 engineers on LinkedIn list Arduino as a skill when looking for work. Arduino makes curriculum.