Scandit Raises $150M in Series D Funding

Scandit Co-Founders

Scandit, a Zurich, Switzerland-based smart data capture company, completed a Series D funding round of $150m at a valuation in excess of $1 billion.

The round was led by Warburg Pincus, with participation from existing shareholders Atomico, Forestay Capital, G2VP, GV, Kreos, NGP Capital, Schneider Electric, Sony Innovation Fund by IGV1 and Swisscom Ventures.

The company plans to use the additional funding to further expand its global footprint and team with a particular focus on APAC, including Japan, Singapore and South Korea, accelerate R&D to advance enterprises’ core business processes with an increased focus on AI/ML capabilities and autonomous data capture methods.

Led by Samuel Mueller, CEO, Scandit provides a smart data capture platform that enables smart devices, such as smartphones, drones, digital eyewear and robots to capture data from barcodes, text, IDs and objects to automate and provide insights for end-to-end processes. It 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. The company now has over 1700 global customers including American Eagle Outfitters, Carrefour, FedEx, Levi’s Strauss & Co., Yamato Transport and Sephora.