Scandit

Scandit, a Switzerland-based company, provides data capture solutions for various industries. The company launched MatrixScan Find in July 2023 , an AR overlay tool for smart devices that assists both retail employees and customers in finding items on shelves. This tool is part of the Smart Data Capture platform, which allows users to capture inventory data using smart devices. It features a pre-existing user interface that incorporates AR functionalities into native apps.

MatrixScan Find can locate, track, and decode multiple barcodes simultaneously. It integrates seamlessly with Scandit's barcode scanner application for mobile devices. The product is primarily aimed at individuals involved in retail logistics and delivery but can also be made available to customers through retailer-specific apps. It is compatible with iOS and certain Android devices.

Scandit also offers MatrixScan Count, a tool that allows for quick, intuitive, and error-free scanning of multiple barcodes. This product can be used for tasks like goods reception and inventory counting. The built-in interface eliminates the need for extensive development and user testing. The AR overlay provides real-time information and guidance at all stages of the workflow. Its interface is designed to be easily understandable, even for users who are unfamiliar with the technology.

The data capture engine of Scandit can be installed on any device that has a camera, such as smartphones, drones, robots, and smart glasses. The primary use of this tool by retailers is for cashierless checkouts, where customers can scan a product's barcode and pay through the app. In addition to self-checkouts, the application also aids in inventory management, delivery confirmation, and asset tracking.

Apart from retail, Scandit extends its services to various sectors, including transportation and logistics, healthcare, and manufacturing. It uses its computer vision technology to automate processes, provide insights, and enhance customer engagement and workforce productivity.

Additionally, in August 2024 Scandit acquired shelf audit automation technology assets from MarketLab. The acquisition aimed to strengthen Scandit's retail shelf management and analytics solution, ShelfView.

Key customers and partnerships

As of March 2024, Scandit’s customer portfolio included over 2,000 customers including 7-Eleven, Alaska Airlines, Carrefour, DPD, and Toyota. As per the company, the app was active in “more than 100 million mobile devices, making billions of scans per year” as of March 2021.

Funding and financials

In February 2022, Scandit raised an oversubscribed Series D funding round of USD 150 million led by Warburg Pincus, garnering a valuation of over USD 1 billion. The company had plans to use the funding to expand its global team and geographic footprint, with a focus on the APAC region— specifically, Japan, Singapore, and South Korea. The investment was to also support the company’s R&D efforts in AI/ML and autonomous data capture toward better decision-making and more effective core business processes.

Competitors: None (Scandit’s presence in providing data capture solutions for AR inventory identification is unique.)