Scandit Raises USD 80 million to digitally transform traditional industries through computer vision and augmented reality

26.05.2020 11:37, Isabelle Mitchell

Scandit, the leading technology platform for mobile computer vision and augmented reality solutions for enterprises, has raised USD 80 million in Series-C-related funding led by G2VP, a Silicon Valley venture capital firm of former Kleiner Perkins partners. They were joined by Atomico, GV, Kreos, NGP Capital, Salesforce Ventures, and Swisscom Ventures. The funding will be used to further accelerate global expansion and technology leadership.

Scandit was a Venture Kick winner and a Venture Leader in 2010 and was among the TOP 100 Swiss startups in 2011, 2012, and 2014. 

The Zurich-based company provides a unique computer vision and machine learning platform that combines leading-edge barcode scanning, text recognition (OCR), object recognition, and augmented reality (AR) for any camera-equipped smart device – from familiar smartphones to drones, wearables, and robots. 

The new funding will further accelerate growth in new markets such as APAC and Latin America, as well as expand Scandit’s footprint and operations in North America and Europe. It will also support continued R&D to develop new ways enterprises can transform their core business processes using computer vision and AR. Scandit enables companies to accelerate their digital transformation by blending the physical world with relevant digital information. 

“COVID-19 has shone a spotlight on the need for rapid digital transformation in these uncertain times, and the need to blend the physical and digital plays a crucial role,” said Samuel Mueller, CEO of Scandit. “The smartphone is a personal tool that can be deployed with powerful computer vision software to seamlessly interact with everyday objects and display real-time insights with AR-overlays. 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.”



Source: Scandit press release