Scandit, one of the leading developers of next-generation data capture technology enabled by mobile computer vision, augmented reality (AR) and machine learning, have announced that it has raised $30 (USD) million in Series B funding.
The funding is led by GV, with participation from NGP Capital and existing investor Atomico, among others. Scandit has in the past raised over $13 million but with this new funding the company will be able to accelerate their global expansion. This includes further developing their mobile computer vision platform which allows for advanced capabilities across any camera-equipped device.
With the funding Scandit’s long-term vision of bringing the Internet of Things (IoT) to everyday objects is able to speed up. By harnessing smart devices and their cameras as universal sensors through mobile computer vision and AR technology, Scandit is creating seamless convergence of physical and digital worlds.
“Scandit delivers high performance across different smartphones by combining deep learning and machine learning with more traditional computer vision heuristics, creating an entirely new approach to computer vision applications for the enterprise.” Said Tom Hulme, General Partner at GV: “Combined with the technical strength of the founding team, Scandit’s mobile data capture platform is well-positioned to shape how enterprises and consumers interact with everyday objects and augmented reality,”
Retail, transportation and logistics, manufacturing, and healthcare are all sectors which are leveraging Scandit’s technology to create and power mobile apps for crucial enterprise workflows that use scanning. This includes point of sale, mobile shopping, self-checkout, inventory management, and proof of delivery. In recent years, Scandit’s mobile computer vision platform has transformed the digital opportunities and offers companies a reliable and robust solution.
“We’re thrilled to have GV and NGP Capital as partners. Both have a deep understanding of the opportunities that exist for advanced mobile computer vision,” said Samuel Mueller, CEO of Scandit. “This new funding will enable us to keep up our rapid growth, but also, looking at the bigger picture, it’s going to increase the overall adoption of mobile computer vision and augmented reality in the enterprise, which will help to streamline operations and lead to cost savings.”
As Scandit now take this new investment and continue to develop their platform further, VRFocus will be sure to bring you all the latest so make sure to stay tuned for more.