Market Overview

Scandit Raises $30M in Series B Led by GV to Bring the Internet of Things to Everyday Objects Through Computer Vision and Augmented Reality

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The funding will be used to accelerate global expansion and product
development

Scandit, the leading enterprise technology platform for mobile computer
vision, barcode scanning, and augmented reality, today 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 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 at 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 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."

"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," said Bo Ilsoe, Partner at NGP Capital.

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.

Not only does Scandit reinvent how you scan and what you scan, but it
also opens new possibilities for filtering what's been scanned. This
makes it possible to bring the online experience into the real world so
you can see beyond objects and get valuable information to help make
smarter decisions.

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.

Resources

- Watch this video to see Scandit in action: https://youtu.be/gnpAgLk_xDU

- Learn how retailers can use Scandit to Think Like Amazon: https://www.scandit.com/think-like-amazon-suite-fp/

- Learn how Post and Parcel enterprises can sprint the Last Mile with
mobile computer vision and augmented reality: https://www.scandit.com/post-and-parcel/

- View Scandit's press kit: https://www.scandit.com/press/

- Learn more about Scandit: https://www.scandit.com/

About Scandit

Scandit enables enterprises and consumers to change the way they
interact with everyday objects and augment the physical world with
real-time data captured by scanning barcodes and recognizing text,
objects, and other visual identifiers using smartphones, tablets,
wearables, drones, and robots.

Scandit's mobile data capture platform is built on proprietary computer
vision, augmented reality, and machine learning technologies. Companies
in industries such as retail, transportation and logistics,
manufacturing, and healthcare can 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.

Many of the world's most innovative and successful companies are
benefiting from Scandit's enterprise-grade mobile data capture platform,
including Sephora, Louis Vuitton, DHL, and Levi Strauss & Co.

For more information, visit https://www.scandit.com.

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