Raspberry Pi secures significant funding as demand for PCs rises during lockdowns
The organization behind the Raspberry pie managed to secure a $ 45million (£ 33million) investment through the success of its recent devices, including the Raspberry Pi 400 and the Raspberry Pi Pico.
The Raspberry Pi was originally designed as an affordable computer to lower the barrier of entry for the computer education. However, it also rekindled interest in DIY computing and ushered in a whole generation of Single Board Computers (SBCs).
Eben Upton, inventor of the Raspberry Pi, is also the founder of the Raspberry Pi Foundation and CEO of its business subsidiary, Raspberry Pi (Trading), which was established in 2013 as a for-profit wholly owned subsidiary to recover profits. . to finance the work of the foundation.
There has been no official word from Raspberry Pi (Trading) on how it intends to use the infused capital.
Business is good
Earlier this year there had been reports that the organization was preparing to be listed on the London Stock Exchange with a valuation of £ 300million.
However, Upton quickly shot news from the list indicating that the move is not something they were actively pursuing, and that the organization regularly speaks to advisors to find ways to fund the future growth of the business.
The last movement, reported for the first time by The telegraph, appears to be part of such a planned expansion, which sees Raspberry Pi (Trading) offloading an unspecified amount of stake in the company to Lansdowne Partners and Ezrah Charitable Trust, in a move that values the deal at around $ 500 million. of dollars.
“The commercial and human impact [Raspberry Pi] has achieved over its first decade has been extraordinary and we look forward to helping the company expand this even further in the years to come as new capital is deployed, ”said Peter Davies, Lansdowne Partner and responsible for developed markets strategy, in a press release. on investment.
Going through The telegraph