Category: Raspberry Pi

04.06.2022 Musings

This post is by Om Malik from On my Om

Hidden by Om Malik.

“If you hurry to get to the future, you always get a punishment for it. For example, instant coffee.”

Alan Watts

Fast paid too little attention to burn rate because it just assumed the VC gravy train would keep rolling. It’s not the only one, so don’t be surprised to see similar stories in the near future. It’s a startup strategy that’s mostly paid off for the past decade but, as we first discussed in January, things have changed. It’s like the longest-ever game of musical chairs has finally ended. It’s been a long time since these morning missives have needed a dedicated section to track VC-backed startup layoffs and closures. We’re not quite there yet, but I’m sensing it on the horizon.

Dan Primack, Axios Pro Rata Newsletter.

Dan Primack outlines the more significant implications of the news that Fast, an online commerce-focused company, will shut down. The company, which employed 450, raised $120 million (at a valuation of over $500 million) from Stripe, Index Ventures, and Addition. Fast Founder Domm Holland has a colorful past, and those in his native Australia aren’t big fans.

VC backing. Web3 backing. Well, there is a third way of funding innovation. Web’s big winners fund the future with their dollars and with open source ethos at its core. And doing so with little fanfare. Tom Preston-Warner, founder and former CEO of GitHub, has put a million dollars into a web framework, RedwoodJS. Instead of turning (Read more...)

Raspberry Pi gets $45M to meet demand for low-cost PCs and IoT

Turns out COVID-19 lockdowns have been good for the indoor hobby of hardware hacking: The U.K.-based foundation behind the low-price microprocessor Raspberry Pi announced close of a $45 million funding round yesterday.

The cash injection into the trading arm of the (nonprofit) Raspberry Pi Foundation values it at $500 million (pre-money), founder Eben Upton confirmed.

The funding round was led by London-based Lansdowne Partners and The Ezrah Charitable Trust, a private charitable foundation based in the US.

“We are pleased to welcome Lansdowne Partners and The Ezrah Charitable Trust as our first outside shareholders to help us achieve the next steps in our growth,” said Upton in a statement. “We are seeing strong demand from consumers as they use our PCs to access the internet for work and entertainment, and even faster growth from industrial companies globally as they design Raspberry Pi into their innovative IoT applications. This funding will enable us to scale to meet future demand.

“Our new investors will not only add value to our strategy and help support our growth but they also understand the rationale and ethos of our business model, aimed at enabling access to hardware and software tools for everyone and delivering a consumer PC experience from only $35 as well as building partnerships with a growing range of OEMs across the world.”

The Pi Foundation said the financing will be used to expand what is already an ample product line of Pi microprocessors.