Arduino Goes Pro: Raised $32 Million
14 June, 2022
Renesas has joined the round with $10 million investment. The funding will help Arduino to move beyond its traditional DIY and educational users, into the the enterprise and the professional IoT market
The Popular Open-Source Company Arduino announced the completion of its Series B funding round of $32 million, led by the global deep tech investor Robert Bosch Venture Capital (RBVC), with the participation of Renesas, Anzu Partners, and Arm. The investment will help Arduino to move beyond its traditional market of hobbyists and students, and to bring its open source hardware into the enterprise level and the professional IoT market.
The future enterprise-grade solutions will consist of low-code cloud services for IoT applications, solutions for intelligent edge designs, AI capabilities and the expansion of Arduino’s Systems Integrators Partner Program. “Generations of engineers grew up using Arduino boards in STEM programs, and they’ve become accustomed to the accessibility, simplicity and power of the company’s open-source hardware, software and cloud services. They’re now taking those demands into the enterprise as they enter the labor force,” said Massimo Banzi, co-founder and Chairman of Arduino.
As part of the round, Renesas is investing $10 million. The funding will also provide Arduino with access to a new level of technology with Renesas’ portfolio, including MCUs/MPUs, analog, power, and connectivity products. This investment is part of Renesas’ strategy to grow in the mass market and reach new customers within Arduino’s community of 30 million developers worldwide. Arduino is already involved in the professional market, with the launch of its new Arduino PRO family of IoT solutions.
Posted in tags: Arduino