Enterprise barcode scanner company Scandit has closed an$80 million Series C round, led by Silicon Valley VC company G2VP. Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures likewise participated in the round– which brings its overall raised to
date to$123M. The Zurich-based company offers a platform that integrates computer vision and machine learning tech with barcode scanning, text recognition (OCR), item recognition and augmented reality which is designed for any camera-equipped smart gadget– from smartphones to drones, wearables (e.g. AR glasses for storage facility workers) and even robots.
Use-cases consist of mobile apps or websites for mobile shopping; self checkout; stock management; proof of shipment; property tracking and upkeep– including in health care where its tech can be utilized to power the scanning of client IDs, samples, medication and materials.
It bills its software as “unequaled” in regards to speed and precision, along with the ability to scan in bad light; at any angle; and with harmed labels. Target industries include retail, healthcare, industrial/manufacturing, travel, transportation & & logistics and more.
The current financing injection follows a $30M Series B round back in 2018. Ever since Scandit says it’s tripled repeating profits, more than doubling the variety of blue-chip enterprise clients, and doubling the size of its worldwide group.
International consumers for its tech include the similarity 7-Eleven, Alaska Airlines, Carrefour, DPD, FedEx, Instacart, Johns Hopkins Medical Facility, La Poste, Levi Strauss & & Co, Mount Sinai Healthcare Facility and Toyota– with the company touting “10s of billions of scans” annually on 100+ million active gadgets at this stage of its company.
It says the brand-new funding will go on more continuing the gas to grow in brand-new markets, consisting of APAC and Latin America, as well as building out its footprint and ops in The United States and Canada and Europe. On the slate: Funding more R&D to design new ways for enterprises to transform their core business processes using computer vision and AR.
Scandit, which states customers are looking for ways to enable more contactless interactions. Another need surge it’s seeing is originating from the pandemic-related boom in ‘Click & & Gather’ retail and “millions” of additional house deliveries– something its tech is well positioned to deal with due to the fact that its scanning apps support BYOD (bring your own gadget), rather than needing proprietary hardware.
“COVID-19 has actually shone a spotlight on the need for rapid digital improvement in these uncertain times, and the requirement to blend the digital and physical plays a crucial role,” said CEO Samuel Mueller in a statement. “Our new funding makes it possible for us to help a lot more enterprises to quickly adjust to the brand-new need for ‘contactless organisation’, and be better positioned to be successful, whatever the brand-new typical is.”
Commenting on the financing in a supporting declaration, Ben Kortlang, basic partner at G2VP, added: “Scandit’s platform puts an enterprise-grade scanning option in the pocket of every employee and customer without needing legacy hardware. This bridge between the digital and physical worlds will be increasingly crucial as the world accelerates its shift to online acquiring and shipment, dispersed supply chains and cashierless retail.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.