British tech firm Raspberry Pi set for £500m float

Raspberry Pi, the Cambridge-based computer business known for its low-cost, credit-card-sized computers, is finalising plans to float on the stock market this month, potentially valuing the company at up to £500 million.

Founded by computer scientist Eben Upton, Raspberry Pi aims to help children learn coding. Its devices, priced as low as £15, have gained popularity not only among individual users but also among companies seeking to use its technology for various applications such as security cameras, ventilation systems, and self-pour coffee machines.

The Raspberry Pi Foundation, with a mission to empower young people through computing and digital technologies, still holds the majority stake in the business. Notable outside investors include Arm and Sony, the latter manufacturing Raspberry Pi’s computer boards at its factory in south Wales.

The company’s financials for 2022 show positive results, with 94 employees and $20 million in operating profit from $187 million in revenue.

This flotation attempt comes after Raspberry Pi’s previous plan in 2021 was postponed due to market conditions impacted by geopolitical events and semiconductor chip shortages. However, with growing demand and opportunities in the tech sector, Raspberry Pi is optimistic about its growth potential, aiming to expand its business both domestically and internationally.

With the help of advisors Peel Hunt and Jefferies, Raspberry Pi is poised to proceed with the float in the coming days, pending market conditions.

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