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Scandit raises $80M as COVID-19 drives demand for contactless deliveries

Scandit raises $80M as COVID-19 drives demand for contactless deliveries

Enterprise barcode scanner firm Scandit has closed an $80 million Series C spherical, led by Silicon Valley VC agency G2VP. Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures additionally participated within the spherical — which brings its whole raised up to now to $123M.

The Zurich-based agency affords a platform that mixes pc imaginative and prescient and machine studying tech with barcode scanning, textual content recognition (OCR), object recognition and augmented actuality which is designed for any camera-equipped sensible system — from smartphones to drones, wearables (e.g. AR glasses for warehouse staff) and even robots.

Use-cases embody cellular apps or web sites for cellular buying; self checkout; stock administration; proof of supply; asset monitoring and upkeep — together with in healthcare the place its tech can be utilized to energy the scanning of affected person IDs, samples, medicine and provides.

It payments its software program as “unmatched” when it comes to pace and accuracy, in addition to the power to scan in unhealthy gentle; at any angle; and with broken labels. Target industries embody retail, healthcare, industrial/manufacturing, journey, transport & logistics and extra.

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The newest funding injection follows a $30M Series B spherical again in 2018. Since then Scandit says it’s tripled recurring revenues, greater than doubling the variety of blue-chip enterprise prospects, and doubling the scale of its international staff.

Global prospects for its tech embody the likes of 7-Eleven, Alaska Airlines, Carrefour, DPD, FedEx, Instacart, Johns Hopkins Hospital, La Poste, Levi Strauss & Co, Mount Sinai Hospital and Toyota — with the corporate touting “tens of billions of scans” per 12 months on 100+ million energetic gadgets at this stage of its enterprise.

It says the brand new funding will go on additional urgent on the fuel to develop in new markets, together with APAC and Latin America, in addition to constructing out its footprint and ops in North America and Europe. Also on the slate: Funding extra R&D to plot new methods for enterprises to remodel their core enterprise processes utilizing pc imaginative and prescient and AR.

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The want for social distancing through the coronavirus pandemic has additionally accelerated demand for cellular pc imaginative and prescient on private sensible gadgets, in accordance with Scandit, which says prospects are on the lookout for methods to allow extra contactless interactions.

Another demand spike it’s seeing is coming from the pandemic-related growth in ‘Click & Collect’ retail and “hundreds of thousands” of additional residence deliveries — one thing its tech is effectively positioned to cater to as a result of its scanning apps help BYOD (convey your individual system), relatively than requiring proprietary {hardware}.

“COVID-19 has shone a highlight on the necessity for speedy digital transformation in these unsure occasions, and the necessity to mix the bodily and digital performs a vital function,” stated CEO Samuel Mueller in an announcement. “Our new funding makes it potential for us to assist much more enterprises to shortly adapt to the brand new demand for ‘contactless enterprise’, and be higher positioned to succeed, no matter the brand new regular is.”

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Also commenting on the funding in a supporting assertion, Ben Kortlang, normal accomplice at G2VP, added: “Scandit’s platform places an enterprise-grade scanning answer within the pocket of each worker and buyer with out requiring legacy {hardware}. This bridge between the bodily and digital worlds will probably be more and more crucial because the world accelerates its shift to on-line buying and supply, distributed provide chains and cashierless retail.”

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