Smart data capture startup Scandit raises $150M on $1B unicorn valuation

Smart data capture startup Scandit AG announced today it has raised $150 million in new funding to expand its global footprint and team with a particular focus on the Asia-Pacific region, including Japan, Singapore and South Korea.

Warburg Pincus led the Series D round with Atomico, Forestay Capital, G2VP, GV, Kreos, NGP Capital, Schneider Electric, Sony Innovation Fund by IGV and Swisscom Ventures also participating. The round valued Scandit at more $1 billion, giving the company unicorn status for the first time. Including the new funding, it has raised $273.1 million to date, according to Crunchbase.

Founded in 2009, Scandit offers a platform that allows for smart data capture and barcode scanning. The company’s software enables smart devices to capture data on the edge from barcodes, text, IDs and objects through computer vision to automate processes and provide insights that enhance customer engagement and increase worker productivity.

Scandit’s platform is designed to give “superpowers” to workers, customers and businesses with speed, accuracy and intelligence. The company’s Smart Data Capture platform enables smart devices, such as smartphones, drones, digital eyewear and robots to capture data to automate and provide insights for end-to-end processes.

The platform accurately scans data up to three times faster than dedicated scanners in challenging light or at angles, on damaged labels, across multiple codes, with any smart device, according to the company. It says its solution enables innovation that delivers significant cost savings and increases employee retention and customer loyalty.

Not surprisingly, Scandit said the pandemic has accelerated expectations from employees and customers, who increasingly prefer digital experiences. The company argues that enterprises must address changing workforce dynamics to tackle ongoing labor shortages, the rise of gig economy workers and the need to empower existing employees. Customers increasingly seek contactless experiences, while businesses need to automate processes, gain new intelligence and increase efficiencies to meet these new needs.

Since last raising funding in June, Scandit has hiked its headcount by 85%, with plans to grow an additional 50% by the end of 2022. The increasing headcount reflects a growing customer base that includes Instacart Inc., Levi’s Strauss & Co., Sephora, the U.K. National Health Service, FedEx Corp., L’Oréal S.A., 7-Eleven Inc., Cathay Pacific Airways Ltd. and Robert Bosch GmbH.

“The new funding will allow us to help more businesses globally and to better empower an evolving mobile workforce, meet new customer expectations and deliver increasingly automated operations,” Samuel Mueller, chief executive officer of Scandit, said in a statement.

Photo: Scandit