Arduino, known for its microcontrollers and its strong presence in the DIY community, has secured $22 million in fresh funding to support its expansion into the enterprise market. This new funding comes as a continuation of the company’s Series B funding round, led by CDP Venture Capital and Anzu Partners, and follows last year’s $32 million funding announcement.
Key Takeaway
Arduino secures $22 million in additional funding to support its expansion into the enterprise market. The company aims to provide more sophisticated products and solutions that meet the needs of corporate clients. This funding will also enable Arduino to expand its operations in the U.S. and Europe, including Italy where most of its manufacturing is done.
Meeting the Needs of the Enterprise Market
With this funding, Arduino aims to cater to the needs of corporate clients who are looking to build products at scale. CEO Fabio Violante acknowledges the shift in expectations between hobbyists and enterprise customers, stating that “we built the foundation of a different go-to-market organization within Arduino that is dedicated to professional customers.”
Arduino’s previous products were primarily designed for rapid prototyping and were not suited for complex tasks. However, with their expanded range of more sophisticated products, sensors, and microcontroller boards, the company aims to provide solutions that meet the requirements of the enterprise market.
Expanding Presence and Manufacturing
Aside from R&D investments and enhancing its go-to-market strategy, Arduino plans to use the funding to expand its operations in the United States and Europe, including its native Italy where most of its manufacturing takes place. The company recently opened offices in Austin and Chicago, positioning itself well in light of increasing pressure, such as the CHIPS Act in the U.S. and the EU Cybersecurity Act, to use local components and manufacture locally.
