Swiss computer vision company Scandit lands $80 million Series C to digitally transform enterprise

Scandit, a Zurich-based enterprise platform for computer vision and augmented reality (AR), has raised an 80 million Series C round led by G2VP and joined by Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures. The Swiss technology allows enterprise companies to manage inventory, e-commerce and logistics within one intelligent scanning and tracking system. The platform combines barcode scanning, text recognition, object recognition and augmented reality in a way that’s compatible with any smart device with a camera: phones, drones, wearables and robots. The company also claims the technology is “unmatched in terms of speed, accuracy, and the ability to scan in bad light, at any angle and with damaged labels”.

"Scandit's platform puts an enterprise-grade scanning solution in the pocket of every employee and customer without requiring legacy hardware," said Ben Kortlang, general partner at G2VP. "This bridge between the physical and digital worlds will be increasingly critical as the world accelerates its shift to online purchasing and delivery, distributed supply chains and cashierless retail." The platform is used across a variety of sectors, including retail (7-Eleven, Carrefour), postal services (DPD, FedEx, Instacart, La Poste), car manufacturers (Toyota), and healthcare (John Hopkins and Mount Sinai hospitals in the US). In healthcare, for example, healthcare workers use the app to scan patient IDs, samples, medication and supplies. “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,” said Scandit CEO Samuel Mueller.

The Series C brings the company’s total funding to $123 million, including a $30 million round two years ago. The new investment will fuel growth in the company’s newest markets, APAC and Latin America, and finance R&D into how the company might digitally transform other enterprise business processes.

Photo: Scandit founders Christof Roduner, Christian Floerkemeier and Samuel Mueller