Scandit raises US$30m in new round of funding

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Scandit, the enterprise technology platform for mobile computer vision, barcode scanning and augmented reality, has raised US$30m in Series B funding led by GV, formerly Google Ventures.

The funding round also had participation from NGP Capital, existing investor Atomico and other contributors. Scandit has previously raised US$13m.

The new funding will enable Scandit to accelerate global expansion and further develop its mobile computer vision platform to support advanced capabilities across any camera-equipped device.

The funding will propel Scandit’s long-term vision of bringing the Internet of Things (IoT) to everyday objects. Scandit achieves this by harnessing smart devices and their commodity cameras as universal sensors through mobile computer vision and augmented reality (AR), merging the physical and digital worlds.

Samuel Mueller, CEO of Scandit, said, “We’re thrilled to have GV and NGP Capital as partners. Both have a deep understanding of the opportunities that exist for advanced mobile computer vision.

“This new funding will enable us to keep up our rapid growth, but also, looking at the bigger picture, it’s going to increase the overall adoption of mobile computer vision and augmented reality in the enterprise, which will help to streamline operations and lead to cost savings.”

Tom Hulme, general partner at GV, added, “Scandit delivers high performance across different smartphones by combining deep learning and machine learning with more traditional computer vision heuristics, creating an entirely new approach to computer vision applications for the enterprise.

“Combined with the technical strength of the founding team, Scandit’s mobile data capture platform is well-positioned to shape how enterprises and consumers interact with everyday objects and augmented reality.”

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Kirstie joined the team in early 2017 and brings writing, communications and client experience with her. Now an assistant editor, she produces content for our magazines and websites. Away from the office, you will find her blogging on her lifestyle website or searching the internet for photos of sausage dogs.

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