iot health

IoT Evolution Health News

IoT Evolution Health Home

Scandit Raises Series B to Bring IoT to Everyday Objects

By Ken Briodagh
July 30, 2018

According to a recent release, Scandit, an enterprise technology platform for mobile computer vision, barcode scanning, and augmented reality, 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 will 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, General Partner, GV.

Companies in industries such as retail, transportation and logistics, manufacturing, and healthcare 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. Over recent years, the digital transformation opportunities offered by Scandit’s mobile computer vision technology platform have resulted in a consistent doubling of growth and hundreds of leading brands as clients, including Sephora, Louis Vuitton, DHL, and Levi Strauss & Co.

“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, 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.”

Scandit has gone far beyond barcodes, smartphones, and tablets by enabling the capturing and decoding of text, objects, and other visual identifiers using wearables, drones, robots, or stationary cameras. In doing so, Scandit extends the Internet of Things to everyday objects by allowing them to be identified, tracked, and superimposed with relevant digital information without requiring them to have a computer chip embedded or be connected online.

For example, retail associates can use Scandit’s mobile MatrixScan solution to scan an entire shelf at once and see real-time inventory data on the display via augmented reality overlay; transportation and logistics enterprises can read multiple packages in a single scan and have a specific package with special instructions highlighted on the screen; and consumers can scan a shelf at a grocery store and quickly identify items that are vegan or lactose-free.


Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Editorial Director

SHARE THIS ARTICLE
Related Articles

Asimily Studies the Internet of Medical Things: How Adopting a Holistic, Risk-Based Approach is Key for HDOs

By: Alex Passett    8/23/2023

Internet of Medical Things company Asimily published a new report studying the effects of cyberwarfare on the modern healthcare industry.

Read More

GlobalPlatform Leads the Way in Automotive Security

By: Greg Tavarez    5/28/2023

GlobalPlatform launched a comprehensive initiative to address automotive security challenges and foster collaboration within the industry.

Read More

Validic Expands Healthcare IoT Platform with Integration of Smart Meter's Cellular-Enabled Health Devices

By: Stefania Viscusi    4/5/2023

Validic, a digital health company, announced it has integrated with Smart Meter, a connected health solution supplier, to expand its healthcare IoT pl…

Read More

CenTrak Announces Workflow Software for Improved Healthcare Solutions

By: Alex Passett    1/19/2023

End-to-end healthcare solutions provider CenTrak has introduced Workflow, its new software designed to remove manual burdens in clinical settings.

Read More

The Internet of Cannabis: How Sensor-Based Networks and Precision Horticulture are Going Next Level

By: Reece Loftus    12/19/2022

With its Grow as a Service offering, PharmCloud's has created Cannabis Industry 4.0, with IoT sensors placed throughout the growth process to enable m…

Read More