What will we do with an additional $22M?
We are happy to announce that Arduino raised an additional $22 million round, taking our 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.
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 we recently opened an office in Austin, TX and bolstered our presence in Chicago, IL. Finally, we will use the additional funds to accelerate go-to-market initiatives and customer support in selected areas.
Arm Announces Public Filing for Proposed Initial Public Offering
Arm Holdings Limited (“Arm”) today announced that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of American depositary shares (“ADS”) representing its ordinary shares. Arm has applied to list the ADSs on the Nasdaq Global Select Market under the symbol “ARM”. The number of ADSs to be offered and the price range for the proposed offering have yet to be determined.