Scandit

Scandit’s data-capturing engine can be installed to any device with a camera, including smartphones, drones, robots, and smart glasses. This app is mainly used by retailers for cashierless checkouts, allowing shoppers to scan a product’s barcode and pay via app. However, Scandit is not only used for self-checkout but also for inventory management, proof of delivery, and asset tracking. As per the company, the app is active in “more than 100 million mobile devices, making billions of scans per year” as of March 2021.

Scandit operates across several core verticals besides retail, including transportation and logistics, healthcare, and manufacturing, leveraging its computer vision technology to automate processes and provide insights to improve customer engagement and workforce productivity.

Scandit has a global presence, with over 1700 global customers, including 7-Eleven, Alaska Airlines, Carrefour, DPD, FedEx, Johns Hopkins Hospital, La Poste, Levi Strauss & Co, Mount Sinai Hospital, and Toyota. The company has offices in San Francisco, Boston, London, Warsaw, and Tampere, Finland, in addition to its Zurich headquarters. Since 2020, the company has more than doubled its annual recurring revenue.

In February 2022, Scandit raised USD 150 million in a Series D funding round led by Warburg Pincus, garnering a valuation of over USD 1 billion. The round was oversubscribed, with participation from Scandit’s existing shareholders, including Atomico, Schneider Electric, Sony Innovation Fund by IGV, and Swisscom Ventures. The company 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 will also support the company’s R&D efforts in AI/ML and autonomous data capture towards better decision-making and more effective core business processes.