Scandit secures $30 million to further augmented reality and computer vision platform

Switzerland-based scanning software provider Scandit has raised $30 million in a series B funding round led by GV, along with existing investor Atomico, and NGP Capital – a venture capital arm of Nokia Corporation.

The accrued funds will be used by Scandit to expedite its process of expanding the business across the world, and further develop its mobile computer vision platform to support advanced capabilities across any camera-equipped device. It will also help the company to boost its long-term vision of bringing the IoT to everyday objects. This allows Scandit to connect to smart devices and their commodity cameras as universal sensors via mobile computer vision and AR.

Retail, transportation and logistics, manufacturing, and healthcare are some industries that use Scandit's technology to create and power mobile apps for crucial enterprise workflows like mobile point of sale, mobile shopping, self-checkout, inventory management, and proof of delivery. Scandit not only transforms the method of how and what one scans, but also opens new possibilities for filtering what has been scanned. This brings online experience into the real world and which helps one see beyond objects and get valuable information to make smarter decisions.

Scandit is by no means the only company to have raised money in this space of late. Xage Security, a blockchain security platform provider for IIoT, and Perch – interactive retail marketing through IoT provider – have accumulated $12 million and $1.7 million, respectively. The funds increased by Xage will help make its business stronger and support its innovations in projects varying from decentralised energy production, 5G networking, and smart cities. On the other hand, Perch will used its raised funds to help enhance the retail industry through IoT technology. Johnson & Johnson, Estee Lauder, Coty, Red Bull, Kate Spade New York, etc. are some of Perch’s extended and newly formed client list.

Picture credit: Scandit

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