Scandit develops computer vision and on-device (edge) machine learning software that runs on smartphones, tablets and other devices to scan barcodes, text, ID cards and physical objects to drive automation and analytics. The company emphasizes edge processing to handle low light, motion blur and limited camera axes. Scandit is a spinout of ETH Zurich's computer vision department and holds roughly 23 patents (eight granted, rest pending). Since its 2020 Series C the company says annual recurring revenues have doubled and it now serves about 1,700 customers across retail, transportation, manufacturing, logistics and healthcare, including the NHS, FedEx and L'Oréal. Scandit says eight of the 10 larger U.S. retailers are customers and plans to use new funding to advance autonomous data capture, hire more talent and expand internationally, supported by go-to-market initiatives with partners such as Apple and Samsung. Scandit offers a software platform that combines computer vision and machine learning with barcode scanning, text recognition (OCR), object recognition and augmented reality designed to run on any camera-equipped smart device, from smartphones to drones, wearables and robots. Its products support use cases including mobile shopping, self-checkout, inventory management, proof of delivery, asset tracking and healthcare scanning. The company bills its software as fast and accurate, able to scan in poor light, at any angle and on damaged labels. Scandit says it has "tens of billions of scans" per year on 100+ million active devices and lists global customers such as 7-Eleven, FedEx, Carrefour, Instacart, Toyota and major hospitals. Since its 2018 Series B the company reports it has tripled recurring revenues, more than doubled blue-chip enterprise customers and doubled the size of its global team. It plans to use new funding to expand in APAC and Latin America, build out its North American and European operations, and fund R&D to create additional computer-vision and AR products. The ongoing COVID-19 pandemic has accelerated demand for contactless interactions, boosting interest in Scandit’s BYOD-enabled mobile scanning for increased home deliveries and click-and-collect retail. Scandit builds enterprise barcode-scanning and augmented reality software that layers custom computer-vision and AR on top of standard smartphone and wearable cameras. Its core product lets companies capture data and guide workflows using devices such as phones and wearable displays. The company has emphasized use cases on Microsoft HoloLens and other wearables to enable hands-free scanning and virtual markers in warehouses. Scandit intends to use the new funding to grow globally and to introduce its technology across various mobile platforms and “any camera-equipped device.” The startup is Zurich-based and previously raised $13 million. CEO Samuel Mueller said the funding will increase adoption of mobile computer vision and AR in the enterprise and help streamline operations and reduce costs. Scandit provides a software platform and semi-ruggedized smartphone cases that allow phones to capture barcodes in place of expensive proprietary scanners. Its barcode-scanning technology can read codes from over two meters away and in low light. The company offers a barcode scanner SDK for third-party apps and the Flow platform for user and device management, update pushes, and analytics. Scandit positions itself to undercut incumbents such as Motorola, Honeywell and Zebra on cost and flexibility. Major customers include HomeDepot, Macy’s, GE Healthcare, Coop group, PostNL, Shell and Verizon. The company plans to expand its international footprint with new sales offices across the US and Europe.

Total raised

$268M

Funding rounds

4

Latest round

Series D

Latest activity

Feb 2022