To cater the need of specific shock-tube data acquisition and processing system, a low cost open-source alternative has been developed and presented in this paper. Using easily available open-source hardware and software platforms such as ARDUINO, a robust 5.3 MHz speed data acquisition system along with optimized shock tube data processing software is designed and an indigenous shock tube data processing tool has been developed. This has been found to be 10 times less cost than the general-purpose computing equipment available on the market, with a substantial reduction in shockwave data processing time and effort. The setup has been tested with the different diaphragms producing shockwaves of different Mach numbers. The experimental results are compared with the theoretical values obtained using normal shock relations and are found to be consistent with admissible error limits. This validates the design and construction of the device for scientific experiments.