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Zurich-based mobile image processing and cloud computing software vendor Scandit – with clients including Cardinal Health, HomeDepot, Macy’s, GE Healthcare, Coop, Shell and Verizon – recently closed a $7.5 million Series A funding investment from London-based VC, Atomico. Atomico’s investment portfolio consists of notable IoT (Internet of Things) and mobility companies like EVRYTHNG (which also partnered with Avery Dennison), Fon, and Jawbone.
Founded in 2009, Scandit’s holds a number of patented solutions enabling consumer devices to be deployed for the enterprise. Its multi-OS Barcode Scanner SDK for iOS, Android, and Windows, enables the camera on smart devices to capture barcode information from any angle, offering high read rates and high levels of scanning efficiency. The company licenses its barcode scanner platform to hundreds of customers around the globe across all major verticals. Scandit-powered apps are downloaded on millions of active mobile devices and generate more than half a billion scans per year supporting major B2B and B2C applications including apps for mobile shopping, consumer self-scanning, price comparison, product lookup, shopping lists and gift registries for the world’s leading retailers or independent technology startups. In addition, Scandit’s Flow data capture platform enables clients to custom build, deploy and manage their own mobile data capture applications to support business-specific needs including proof of delivery, stock taking, asset management, track-and-trace and order entry. This gives it the potential to be adopted by end users across retail and logistics. In 2016, it also introduced a fully ruggedized camera enhancement peripheral that facilitates forward facing scanning that is similar to rugged mobile devices or sleds/sleeves and was launched for the IPhone 6 and 6S. Containing no additional electrical components, the Scandit case houses special optics that redirect the built-in LED light and camera for forward-faced scanning with a dedicated scan button on the side.
Atomico’s investment comes at a time as more consumer devices are being adopted into the enterprise than ever before. By making its Barcode Scanner SDK available to the broader application developer community, Scandit, and some other alternative data capture solutions like it, are making high quality, omnidirectional barcode scanning capability accessible for a much wider audience. Their biggest advantage is the ability to potentially bring down upfront investment costs as users no longer require additional hardware (peripheral or integrated) to fulfill their barcode scanning requirements. While Scandit’s solutions start off as being supplementary to dedicated, purpose-built scanning devices, the company has helped end-user organizations, primarily large enterprises in industries ranging from transportation and logistics to retail and field sales/service, completely replace legacy data capture solutions with smart devices.
VDC believes Scandit’s consistent efforts to generate greater visibility into its solutions are paying off with significant funding such as this one by Atomico coming through; the company is also generating buzz in the traditional data capture solutions market with its offerings. Going forward, the opportunity is ripe for Scandit and similar solutions, making it an attractive company for investors especially as it builds upon opportunities in retail establishments for apparel, grocery, and specialty goods for inventory management, clienteling, mPOS, and self-shopping applications, as well as in other commercial centers such as field sales and service to help facilitate order entry, asset tracking, picking, proof-of-delivery, and fulfillment applications. The company is also actively pursuing opportunities to address the latest consumer demands from the perspective of integrating barcode scanning capabilities into consumer workflows in order to provide a seamless retail experience across various touchpoints—both in store and online.
(with Richa Gupta, Director)