Scandit

Last updated
Scandit
Company type Private
IndustryTechnology
Founded2009;15 years ago (2009)
Founders
  • Samuel Mueller
  • Christian Floerkemeier
  • Christof Roduner
Headquarters Zürich, Switzerland
Number of locations
7
Area served
Americas, EMEA, APAC
Key people
Samuel Mueller (CEO)
Number of employees
550 (2022)
Website www.scandit.com
Footnotes /references
[1] [2]

Scandit AG, commonly referred to as Scandit, is a Swiss technology company that provides smart data capture software. Their technology allows any smart device equipped with a camera to scan barcodes, IDs and text and to perform additional functions using augmented reality and advanced analytics.

Contents

The company has more than 550 employees, operating from offices in Zürich, Boston, London, Warsaw, Tampere, Singapore and Tokyo. In 2022, the company completed its Series D venture round, reaching a valuation of US$1 billion. [3]

Scandit's core business is to provide computer vision-based smart data capture technology that enables barcode scanning, text and object recognition for enterprise workflows. Their smart data capture SDKs are deployed in a range of industries such as retail, transport, logistics and manufacturing for use cases including inventory management, order fulfilment, store operations, mobile self-scanning, asset tracking and field operations.

Scandit Smart Data Capture technologies are used by three of the top five global courier companies and eight of the top ten US grocers. [4]

History

The three founders namely, Samuel Mueller, Christian Floerkemeier, and Christof Roduner met as doctoral students studying at ETH Zurich in 2009. Initially they set to work on a ten-year-old concept developed by their tutor Friedemann Mattern who had explored the potential of then low-resolution smartphone cameras as barcode scanning devices. [5]

With a proof-of-concept in place, Scandit was formed a year later in 2010 to bring the product to market. In recognition of the technology's potential, Samuel Mueller was awarded the Fast Start award at the 2011 edition of the ACES awards, organised by the Science|Business Innovation Board. [6] In the same year, Scandit was awarded the CTI Startup Label and debuted at 89th on the annual Top 100 Best Swiss Startups league table. [7] Scandit was also recognised on the world stage, winning a US$150,000 prize in the Calling All Innovators competition run by Nokia. [8]

In 2017 Scandit raised US$7.5 million Series A funding to drive development of their mobile barcode scanning technologies. [9]

Series B followed in July 2018, raising a further US$30 million to drive development of new solutions. [10]

A third round of funding (Series C) was secured in May 2020 as demand for ‘contactless apps’ surged. At the same time, Scandit reported recurring revenues had tripled and their customer base had doubled in the previous two years. [11]

In October 2020, Samsung Electronics announced a new partnership with Scandit. Under the terms of the agreement, Scandit's mobile computer vision software would be integrated into Samsung's Knox framework and deployed initially on the Android-powered Galaxy Xcover Pro smartphone. [12]

In April 2021 Scandit's computer vision technology was selected by the National Health Service to digitize the COVID-19 testing program in the UK. The system was used at all fixed and mobile test sites, in home-testing kits and at schools to conduct over 1.2 million tests every day. [13]

In July 2021 Google partnered with Scandit to add barcode scanning capabilities to their AppSheet development platform. [14]

In February 2022, Scandit raised US$150 million Series D funding, pushing Scandit's market valuation above US$1 billion. Scandit also reported that their annual recurring revenue had doubled since May 2020 with over 1,700 global customers in both B2B and B2C sectors. [15]

In the same month, SAP announced their new SAP Warehouse Operator app for the Apple iPhone will include the Scandit barcode scanning SDK. [16] Scandit technology had previously been included in SAP Fiori for SAP S/4HANA too.

In March 2022, Scandit was ranked as one of the 100 most promising B2B retail tech companies in the world by CB Insights. [17] A few months later, Scandit was named as one of Switzerland's ten most valuable startups after achieving unicorn status. [18]

In July 2022 the Scandit Barcode Scanner SDK (including MatrixScan) was made available on the Pega Marketplace for use in AI-powered decisioning and workflow automation projects. [19]

Products

Scandit's core capabilities include software-based barcode scanning, ID scanning and text recognition functionality. Scandit describes their product and support ecosystem as the ‘Smart Data Capture platform’. [20] The platform incorporates the enterprise-grade barcode scanning and text recognition software library (SDK) base product, driven by proprietary computer vision algorithms. The SDK can be integrated into third-party apps, allowing any smart device with a camera, such as smartphones, to become a mobile barcode scanner. The SDK can be complemented by more complex features such as image processing, analytics and augmented reality. [21]

As well as these core capabilities, Scandit also provides additional functionality including MatrixScan, which captures and decodes multiple barcodes simultaneously, [22] and ShelfView which uses proprietary image recognition technology and augmented reality for stock management by retailers. [23]

Related Research Articles

<span class="mw-page-title-main">Zebra Technologies</span> American technology company

Zebra Technologies Corporation is an American mobile computing company specializing in technology used to sense, analyze, and act in real time, sometimes known as smart data capture. The company manufactures and sells marking, tracking, and computer printing technologies. Its products include mobile computers and tablets, software, thermal barcode label and receipt printers, RFID smart label printers/encoders/fixed & handheld readers/antennas, autonomous mobile robots (AMR’s) & machine vision (MV), and fixed industrial scanning hardware & software.

<span class="mw-page-title-main">SoundHound</span> American music and speech recognition company

SoundHound AI, Inc. is a voice AI and speech recognition company founded in 2005. It develops speech recognition, natural language understanding, sound recognition and search technologies. Its featured products include a voice AI developer platform, SoundHound Chat AI, a voice-enabled digital assistant, and music recognition mobile app SoundHound. The company’s headquarters are in Santa Clara, California.

<span class="mw-page-title-main">Insight Partners</span> American investment manager

Insight Partners is a global venture capital and private equity firm that invests in high-growth technology, software, and Internet businesses. The company is headquartered in New York City, with offices in London, Tel Aviv, and Palo Alto.

<span class="mw-page-title-main">Leap Motion</span> Former American company

Leap Motion, Inc. was an American company that manufactured and marketed a computer hardware sensor device that supports hand and finger motions as input, analogous to a mouse, but requires no hand contact or touching. In 2016, the company released new software designed for hand tracking in virtual reality. The company was sold to the British company Ultrahaptics in 2019, which rebranded the two companies under the new name Ultraleap.

Dynamsoft Corp. is a Canadian software development company with its headquarter in Vancouver, Canada. It provides software development kit (SDK) for document capture and barcode applications for various usage scenarios, sometimes known as smart data capture. These SDKs help developers meet document imaging, scanning and barcode reader application requirements when developing web, desktop, or mobile document management applications.

Samsung Knox is a proprietary security and management framework pre-installed on most Samsung mobile devices. Its primary purpose is to provide organizations with a toolset for managing work devices, such as employee mobile phones or interactive kiosks. Samsung Galaxy hardware, as well as software such as Secure Folder and Samsung Wallet, make use of the Knox framework.

Airtable is a cloud collaboration service headquartered in San Francisco. It was founded in 2012 by Howie Liu, Andrew Ofstad, and Emmett Nicholas.

<span class="mw-page-title-main">Raise.com</span>

Raise.com is an e-commerce platform owned and operated by Raise that enables third-party individuals to sell Gift Cards on a fixed-price online marketplace alongside Raise's regular offerings. The company is based in Chicago, Illinois, and was launched in 2013 by founder George Bousis, who still remains the Executive Chairman today alongside CEO Jay Klauminzer.

<span class="mw-page-title-main">WayRay</span> Technology company

WayRay is a deep-tech company with offices in Switzerland, United States, China, Hong Kong, and Germany. It develops holographic AR technologies for connected cars. WayRay's in-house R&D center and prototyping facilities create holographic optical systems, complex mechanics, electronics, and software.

Clarifai is an independent artificial intelligence company that specializes in computer vision, natural language processing, and audio recognition. One of the first deep learning platforms having been founded in 2013, Clarifai provides an AI platform for unstructured image, video, text, and audio data. Its platform supports the full AI lifecycle for data exploration, data labeling, model training, evaluation and inference around images, video, text, and audio data. Headquartered in Washington DC and with employees in the US, Canada, Argentina, Estonia and India Clarifai uses machine learning and deep neural networks to identify and analyze images, videos, text and audio automatically. Clarifai enables users to implement AI technology into their products.

Foursquare Labs Inc., commonly known as Foursquare, is a geolocation technology company and data cloud platform based in the United States. Founded by Dennis Crowley and Naveen Selvadurai in 2009, the company rose to prominence with the launch of its local search-and-discovery mobile app. The app, Foursquare City Guide, popularized the concept of real-time location sharing and checking-in.

Monday.com is a cloud-based platform that allows users to create their own applications and project management software. The product was launched in 2014 and in July 2019, the company raised $150 million, based on a $1.9 billion valuation. The company went public in June 2021 and is based in Tel Aviv, Israel.

<span class="mw-page-title-main">Megvii</span> Chinese technology company

Megvii is a Chinese technology company that designs image recognition and deep-learning software. Based in Beijing, the company develops artificial intelligence (AI) technology for businesses and for the public sector.

Pine Labs is an Indian company that provides financing and retail transaction technology. Founded in 1998, it is a unicorn startup, with a valuation of over US$5 billion.

Smartcar, Inc. is a software company based in Mountain View, California. It allows software developers to locate, unlock, and read data from vehicles using an API.

Barcode library or Barcode SDK is a software library that can be used to add barcode features to desktop, web, mobile or embedded applications. Barcode library presents sets of subroutines or objects which allow to create barcode images and put them on surfaces or recognize machine-encoded text / data from scanned or captured by camera images with embedded barcodes. The library can support two modes: generation and recognition mode, some libraries support barcode reading and writing in the same way, but some libraries support only one mode.

<span class="mw-page-title-main">Branch (company)</span> Mobile software company

Branch is a mobile software company focused on mobile deep linking and attribution. The headquarters of the Branch is located in Palo Alto, California.

<span class="mw-page-title-main">Veho Tech</span>

Veho Technologies is an American logistics service company based in New York, U.S, providing last-mile delivery and return services. The company was founded in 2016, launching a mobile app matching gig-economy drivers with package deliveries in their local areas. The company's name "Veho" comes from Latin, meaning "to carry."

Smart data capture (SDC), also known as 'intelligent data capture' or 'automated data capture', describes the branch of technology concerned with using computer vision techniques like optical character recognition (OCR), barcode scanning, object recognition and other similar technologies to extract and process information from semi-structured and unstructured data sources. IDC characterize smart data capture as an integrated hardware, software, and connectivity strategy to help organizations enable the capture of data in an efficient, repeatable, scalable, and future-proof way. Data is captured visually from barcodes, text, IDs and other objects - often from many sources simultaneously - before being converted and prepared for digital use, typically by artificial intelligence-powered software. An important feature of SDC is that it focuses not just on capturing data more efficiently but serving up easy-to-access, actionable insights at the instant of data collection to both frontline and desk-based workers, aiding decision-making and making it a two-way process.

References

  1. ↑ Tuck, Alex (14 April 2022). "Executive Q&A with Samuel Mueller, Co-Founder of Scandit". Technology Magazine.
  2. ↑ Kyora, Stefan (10 December 2020). "A good year for Scandit". StartupTicker.ch.
  3. ↑ Lunden, Ingrid (9 February 2022). "Scandit snaps up $150M at a $1B+ valuation for its computer vision-based data capture technology". Tech Crunch .
  4. ↑ Mitchell, Isabelle (9 February 2022). "Scandit raises USD 150 million and hits unicorn status". Venturelab.
  5. ↑ Ettlin, Anna (21 June 2021). "I wasn't trying to save the world". D-INFK news channel.
  6. ↑ Wrobel, Peter (4 February 2011). "Europe's academic innovators recognised in ACES awards". Science Business.
  7. ↑ "Top 100 - The Best Swiss Startups 2011". 2011.
  8. ↑ Hainke, Thorsten (26 August 2011). "Nokia zeichnet Scandit aus". Venturelab.
  9. ↑ "Funding Snapshot: Scandit Raises $7.5 Million Series A for Mobile Barcode Scanning". Wall Street Journal . 10 January 2017.
  10. ↑ Hassan, Umar (26 July 2018). "Supply Chain Computer Vision Specialist Scandit Raises $30m Series B Funding". Tech Monitor.
  11. ↑ Nott, George (27 May 2020). "Scandit secures funding boost amid rising demand for 'contactless business' tech". The Grocer .
  12. ↑ "Samsung Introduces Enterprise-grade Barcode Scanning for Samsung Galaxy XCover Pro". Samsung Newsroom. 12 October 2020.
  13. ↑ Weston, Sabina (8 April 2021). "NHS to digitise coronavirus testing with new Scandit deal". IT Pro .
  14. ↑ Rallu, Arthur (8 April 2021). "Barcode and QR-code scanning using Scandit". Google Cloud Community.
  15. ↑ Lunden, Ingrid (9 February 2022). "Scandit snaps up $150M at a $1B+ valuation for its computer vision-based data capture technology". Tech Crunch .
  16. ↑ Halbach, Christian (28 February 2022). "SAP Warehouse Operator – A New iPhone Application for the Warehouse". SAP .
  17. ↑ "The Retail Tech 100: The top retail tech companies of 2022". CB Insights . 15 March 2022.
  18. ↑ "DACH (Germany, Austria and Switzerland): Startups to watch in German-speaking Europe" (PDF). Sifted . 2 June 2022.
  19. ↑ "Scandit Smart Data Capture Now Available in Pega Marketplace". Multichannel Merchant. 28 July 2022.
  20. ↑ "Scandit, the Smart Data Capture Leader, Announces $150m Series D Investment Led by Warburg Pincus". Cision . 9 February 2022.
  21. ↑ Khaliq, Siraj (9 February 2022). "Congratulations to Scandit, Europe's newest Unicorn!". Atomico .
  22. ↑ "Scandit launches MatrixScan, a first-of-its-kind scanning and AR tracking capability". Logistics Management . 5 April 2017.
  23. ↑ "Scandit unveils ShelfView smart data capture and analytics tool". Retail Technology Innovation Hub. 13 January 2022.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.