Scandit raises US$80m for expansion

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Scandit has raised US$80m to finance global expansion and technology leadership.

The funding will be used to enter Asia-Pacific and Latin America and expand operations in North America and Europe.

It will also fund R&D to help enterprises upgrade business processes using computer vision and augmented reality (AR).

The Series C funding was led by Silicon Valley venture capital firm G2VP, along with Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures.

Scandit uses barcode scanning, text and object recognition, and AR for camera-equipped smart devices to scan labels for delivery.

COVID-19 has increased demand for mobile computer vision on personal smart devices for contactless deliveries.

Samuel Mueller, CEO of Scandit, said, “Our new funding makes it possible for us to help even more enterprises to quickly adapt to the new demand for ‘contactless business,’ and be better positioned to succeed, whatever the new normal is.”

Scandit previously raised US$43m in July 2018, resulting in revenue tripling, doubling the number of blue-chip enterprise customers and doubling the size of its global team.

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