G2VP heads up major Scandit Series C funding round

Swiss mobile computer vision and augmented reality solutions specialist, Scandit, has raised $80 million in a Series C round led by G2VP, a Silicon Valley venture capital firm of former Kleiner Perkins partners.

They were joined by Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures. Scandit previously raised $43 million.

The new funding will accelerate growth in new markets such as APAC and Latin America, as well as expand Scandit’s footprint and operations in North America and Europe. It will also support R&D efforts. The venture’s customers include 7-Eleven, Alaska Airlines, Carrefour, DPD, FedEx, Instacart, Levi Strauss & Co and Toyota.

"Scandit's platform puts an enterprise-grade scanning solution in the pocket of every employee and customer without requiring legacy hardware," says Ben Kortlang, General Partner at G2VP.

"This bridge between the physical and digital worlds will be increasingly critical as the world accelerates its shift to online purchasing and delivery, distributed supply chains and cashierless retail.”

“Covid-19 has shone a spotlight on the need for rapid digital transformation in these uncertain times, and the need to blend the physical and digital plays a crucial role,” comments Samuel Mueller, CEO at Scandit.

“The smartphone is a personal tool that can be deployed with powerful computer vision software to seamlessly interact with everyday objects and display real-time insights with AR-overlays. Our new funding makes it possible for us to help even more enterprises to quickly adapt to the new demand for ‘contactless business’, and be better positioned to succeed, whatever the new normal is.”