Mission barcode scanner firm Scandit has closed an $80 million Series C spherical, led by Silicon Valley VC firm G2VP. Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures also participated in the spherical — which brings its total raised to this display $123M.
The Zurich-essentially based firm provides a platform that mixes laptop vision and machine studying tech with barcode scanning, textual bid material recognition (OCR), object recognition and augmented reality which is designed for any camera-equipped orderly tool — from smartphones to drones, wearables (e.g. AR glasses for warehouse workers) and even robots.
Use-cases consist of cell apps or web sites for cell shopping; self checkout; inventory administration; proof of provide; asset monitoring and maintenance — together with in healthcare the attach its tech will also be old type to energy the scanning of patient IDs, samples, drugs and presents.
It bills its gadget as “unmatched” by the yell of dash and accuracy, apart from the flexibility to scan in corrupt gentle; at any perspective; and with damaged labels. Target industries consist of retail, healthcare, industrial/manufacturing, commute, transport & logistics and more.
Basically the most in type funding injection follows a $30M Series B spherical encourage in 2018. Since then Scandit says it’s tripled recurring revenues, more than doubling the need of blue-chip enterprise possibilities, and doubling the scale of its world group.
Global possibilities for its tech consist of the likes of seven-Eleven, Alaska Airlines, Carrefour, DPD, FedEx, Instacart, Johns Hopkins Hospital, La Poste, Levi Strauss & Co, Mount Sinai Hospital and Toyota — with the firm touting “tens of billions of scans” per yr on 100+ million active gadgets at this stage of its replace.
It says the unusual funding will lunge on further pressing on the gasoline to develop in unusual markets, together with APAC and Latin The US, apart from constructing out its footprint and ops in North The US and Europe. Also on the slate: Funding more R&D to opinion unusual ways for enterprises to rework their core replace processes the usage of laptop vision and AR.
The need for social distancing all over the coronavirus pandemic has also accelerated demand for cell laptop vision on personal orderly gadgets, in step with Scandit, which says possibilities are searching for methods to enable more contactless interactions.
Every other demand spike it’s seeing is coming from the pandemic-linked sigh in ‘Click on & Bag’ retail and “millions” of further dwelling deliveries — something its tech is well positioned to cater to due to the its scanning apps toughen BYOD (bring your accept as true with tool), in desire to requiring proprietary hardware.
“COVID-19 has shone a highlight on the need for like a flash digital transformation in these unsure times, and the must blend the physical and digital performs a in reality significant role,” acknowledged CEO Samuel Mueller in an announcement. “Our unusual funding makes it doubtless for us to help rather more enterprises to speedily adapt to the unusual demand for ‘contactless replace’, and be higher positioned to be triumphant, no matter the unusual customary is.”
Also commenting on the funding in a supporting assertion, Ben Kortlang, general companion at G2VP, added: “Scandit’s platform locations an enterprise-grade scanning solution in the pocket of every and every employee and buyer with out requiring legacy hardware. This bridge between the physical and digital worlds will doubtless be more and more serious as the field speeds up its shift to online buying and provide, distributed present chains and cashierless retail.”