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Arduino raises another $22 million to grow into industrial applications. This operation completes round B which in June 2022 had raised 32 million, for a total that today reaches 54 million dollars.
In addition to the figure in the field, this time it is significant that CDP Venture Capital is leading the investment through the new Large Ventures fund, together with the American investment fund Anzu, already present in the first phase of the round. They are joined again by technology partner Arm, via a debt swap.
This is the first operation for Large Ventures. The fund is dedicated to investments in mature stage startups to support the growth of the next champions of innovation and reduce the dimensional gap compared to the other main European countries.
The company born at the Interaction design institute in Ivrea as a simple open source tool for rapid prototyping, which has enthralled students and digital craftsmen over the years, makes a further leap in scale in the world of industry, after a year of “strong growth in particular in the United States – Fabio Violante, CEO of Arduino, explains to Il Sole 24 Ore -. The new funding will help us support our international expansion into the enterprise and cloud world. We want Arduino to be the end-to-end platform of the IoT».
Arduino has its registered office in Switzerland, but most of the 185 employees are in Italy. In Turin there are 130, mainly concentrated on research and development. Thirty of them work in Malmo, Sweden, while the other offices are in Lugano, a new American office in Austin and a presence in Chicago. The production is in Italy, between Ivrea and Biella.