Mobeam, a Palo Alto, CA-based mobile barcode beaming technology, raised $6.2m in Series B funding.
The round was led by yet2Ventures, DFJ Athena and other investors.
The company intends to use the funds for the large-scale rollout of its technology for mobile wallets, mobile payments, digital couponing and barcode-based scanning applications in other industries and for growth in multiple international markets.
Led by CEO George Garrick, Mobeam develops patented light-based beaming technology that enables point-of-sale (POS) laser scanners to read barcodes from smartphone screens, enabling mobile wallets and payment apps to carry barcoded loyalty cards, membership cards, gift cards, tickets, vouchers and digital coupons, which are readable by the scanners at all retail checkouts.
The platform currently operates with almost 300 million Samsung phones. The company plans to launch integrations with several major mobile wallet companies in the coming months and is also in talks with manufacturers to expand the technology to additional smartphone brands and models, as well as to additional chipset manufacturers.