Scandit raises series B funding to bring IoT to everday objects through computer vision

Scandit

Scandit, an enterprise technology platform for mobile computer vision, bar-code scanning and augmented reality, has announced that it has raised $30 million in Series B funding led by GV, with participation from NGP Capital and existing investor Atomico, among others. Scandit has previously raised $13 million.

The new funding will enable Scandit to accelerate global expansion and further develop its mobile computer vision platform to support advanced capabilities across any camera-equipped device. The funding is intended to propel Scandit’s long-term vision of bringing the Internet of Things to everyday objects. Scandit achieves this by harnessing smart devices and their commodity cameras as universal sensors through mobile computer vision and augmented reality (AR), leading to the 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. 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,” said Tom Hulme, GV’s general partner, in a prepared statement.

Companies in such industries as retail, transportation, logistics, manufacturing and health care 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.

“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, Scandit’s CEO, in the prepared statement. “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.”

“The Scandit team has demonstrated great execution, ingenuity, and persistence since founding the company. As a team of world-class entrepreneurs, we are very proud to back Scandit in the next phase of their journey,” added Bo Ilsoe, a oartner at NGP Capital, in the prepared statement.

Source: rfidjournal.com

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