Scandit has raised 30 million US dollars in a Series B financing round that was led by the American venture capital company NGP Capital and the British investment firm Atomico, announced a statement. Scandit had previously raised 13 million dollars.
With the vision of bringing the Internet of Things to everyday objects, the company has developed a software-based barcode scanner that can be used via a mobile phone app or drones. Thanks to its camera, the device can scan barcodes and texts then analyse them in real-time using machine learning and virtual reality.
Applications for Scandit’s solution include warehouse management and self-checkout systems in shops. MatrixScan can also support parcel collection with its ability to scan multiple packages simultaneously, making it quick and easy to identify a customer’s order. Companies including dm, Sephora, Louis Vuitton, DHL and Levi Strauss & Co are already using Scandit solutions.
Scandit plans to use the new funds to drive its global expansion and product development, with the aim of adapting the scanner for more types of device. The company was founded in 2009 by researchers at the Federal Institute of Technology in Zurich (ETH), Massachusetts Institute of Technology (MIT) and IBM Research. It is headquartered in Zurich.
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