Scandit Raises USD 80M to Digitally Transform Traditional Industries

Scandit, the technology platform for mobile computer vision and augmented reality (AR) solutions for enterprises, has announced it has raised USD 80 million in Series C related funding led by G2VP, a Silicon Valley venture capital firm of former Kleiner Perkins partners, the company said.

They were joined by Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures. Scandit has previously raised USD 43 million.

Since the last funding round in July 2018, Scandit has tripled recurring revenues, more than doubled the number of blue-chip enterprise customers, and doubled the size of its global team. The new funding will further accelerate growth in new markets such as APAC and Latin America, as well as expand Scandit´s footprint and operations in North America and Europe.

It will also support continued R&D to develop new ways enterprises can transform their core business processes using computer vision and AR. Scandit´s global customers include 7-Eleven, Alaska Airlines, Carrefour, DPD, FedEx, Instacart, Johns Hopkins Hospital, La Poste, Levi Strauss & Co, Mount Sinai Hospital and Toyota, and perform tens of billions of scans every year on 100+ million active devices.

Scandit is a unique computer vision and machine learning platform combining-edge barcode scanning, text recognition (OCR), object recognition and augmented reality (AR) for any camera-equipped smart device – from familiar smartphones to drones, wearables and robots. The software is unmatched in terms of speed, accuracy, and the ability to scan in bad light, at any angle and with damaged labels.

Scandit enables businesses and consumers to interact with everyday objects by blending the physical and digital worlds using computer vision. Scandit technology is a unique machine learning platform combining-edge barcode scanning, text recognition (OCR), object recognition and augmented reality (AR) for use on any camera-equipped smart device, from smartphones to drones, wearables and robots.