Scandit Valuation, Funding & Investors

Scandit is valued at $1B as of February 2022.

Last Scandit valuation

$1B

Series D · Feb 2022

Last Scandit funding round

$150M

Series D · Feb 2022

Cumulative funding Scandit raised

$273M

across 5 funding rounds

Key investors in Scandit

  • Atomico
  • GV
  • NGP Capital
  • Swisscom Ventures
  • Kreos Capital
  • G2 Venture Partners

Scandit Overview

About Scandit

Scandit is a Zurich-headquartered provider of mobile computer vision software for barcode scanning and augmented reality in enterprise apps. The platform enables text recognition, object detection, and AR overlays on smartphones, wearables, drones, and robots. Used by 7-Eleven for shelf scanning, Alaska Airlines for boarding passes, Carrefour for self-checkout, and Johns Hopkins Hospital for asset tracking. Organizations in retail, logistics, manufacturing, and healthcare integrate Scandit SDKs into apps for inventory, proof-of-delivery, and patient management across 50 countries.


Founded

2009

HQ

SwitzerlandZurich

Status

Privately held

Customer focus

B2B

Revenue model

Licensing, Subscription

Valuation

$1B (Feb 2022)

Scandit Valuation

Scandit is currently valued at $1B, based on its Series D in February 2022.

The $150M round was led by Warburg Pincus, with participation from Forestay Capital, Kreos Capital, GV, Swisscom Ventures, Schneider Electric and 5 other investors.

Scandit valuation by funding round

Scandit valuation by funding round
DateStageValuation
Feb 2022Series D$1B

Scandit Funding History

Scandit has raised a total of $273M across 5 funding rounds.

Scandit's first fundraising round was a $6M angel round in March 2014. The most recent completed round was a $150M Series D in February 2022.

Scandit funding rounds

Scandit funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2022Series DWarburg Pincus (lead); Forestay Capital; Kreos Capital; GV; Swisscom Ventures; Schneider Electric; G2 Venture Partners; NGP Capital; Sony Innovation Fund; Hammer Team; Atomico$150M$1BScandit is a Zurich-based company specializing in smart data capture technology using computer vision to enable smart devices like smartphones, tablets, and drones to scan barcodes, text, IDs, and objects for automating processes, enhancing customer engagement, and boosting worker productivity. The platform serves industries including retail, transportation and logistics, healthcare, and manufacturing, with customers such as three of the top five global courier companies, eight of the top ten US grocers, American Eagle Outfitters, Carrefour, FedEx, Levi’s Strauss & Co., Yamato Transport, Sephora, Instacart, L’Oréal, 7-Eleven, Cathay Pacific, Robert Bosch, and the UK’s NHS for Covid-19 programs. On February 9, 2022, Scandit announced a $150 million Series D funding round led by Warburg Pincus, with participation from existing investors Atomico, Forestay Capital, G2 Venture Partners (G2VP), GV, Kreos Capital, NGP Capital, Schneider Electric, Sony Innovation Fund, and Swisscom Ventures. The round was significantly oversubscribed and valued the company at more than $1 billion, achieving unicorn status and bringing total funding to nearly $300 million. Since its prior Series C round in May 2020, Scandit more than doubled its annual recurring revenue, grew its global customer base to over 1,700, and increased headcount by 85%, with plans to expand another 50% by end of 2022. The new capital targets global expansion, particularly in Asia-Pacific regions like Japan, Singapore, and South Korea, R&D in AI/ML and autonomous data capture, and growth in core verticals. Scandit holds 23 patents in computer vision technology, originating as a spinout from ETH Zurich's computer vision department.
May 2020Series CG2 Venture Partners (lead); Salesforce Ventures; Forestay Capital; Kreos Capital; GV; Swisscom Ventures; NGP Capital; Atomico$80M-Scandit, a Switzerland-based computer vision and augmented reality platform company, raised $80 million in Series C funding led by G2VP in May 2020. The round included investors Atomico, GV, Kreos Capital, NGP Capital, Salesforce Ventures, and Swisscom Ventures, bringing total funding raised to $123 million. The company provides mobile computer vision and AR solutions for enterprises, with a platform that combines barcode scanning, optical character recognition, object recognition, and augmented reality capabilities deployable on smartphones, drones, AR glasses, and robots. Since its previous $30 million Series B round in July 2018, Scandit had tripled recurring revenues, more than doubled its blue-chip enterprise customer base, and doubled its global team size. The company's customer roster included major brands such as 7-Eleven, Alaska Airlines, Carrefour, DPD, FedEx, Instacart, Johns Hopkins Hospital, La Poste, Levi Strauss & Co, Mount Sinai Hospital, and Toyota, with customers performing tens of billions of scans annually on over 100 million active devices. The funding was deployed to expand operations in emerging markets including Asia Pacific and Latin America, strengthen teams in North America and Europe, and accelerate R&D efforts in computer vision and AR technology for enterprise business process transformation.
Jul 2018Series BGV (lead); NGP Capital (lead); Atomico$30M-Scandit is a Zurich-based enterprise software company specializing in mobile computer vision, barcode scanning, and augmented reality technologies that enable smartphones and camera-equipped devices to replace traditional hardware scanners for workflows like point-of-sale, inventory management, self-checkout, proof of delivery, and warehouse operations. Clients include major brands such as Sephora, Louis Vuitton, DHL, and Levi Strauss & Co. across retail, logistics, manufacturing, and healthcare sectors. The company had previously raised $7.5M in Series A in January 2017 led by Atomico and $13M prior to that. On July 29, 2018, Scandit raised a $30 million Series B funding round led by GV (formerly Google Ventures) and NGP Capital, with Atomico also participating. The investment was highlighted for Scandit's innovative approach combining deep learning, machine learning, and computer vision heuristics to deliver high-performance mobile data capture, positioning it well in enterprise AR applications. GV's Tom Hulme praised the founding team's technical strength and the platform's potential to transform enterprise-consumer interactions. The new capital was intended to fuel global expansion, accelerate growth—which had been consistently doubling—and broaden adoption of mobile computer vision and AR across various platforms and devices, including Microsoft HoloLens for hands-free warehouse scanning. CEO Samuel Mueller emphasized streamlining operations and achieving cost savings through increased enterprise adoption.
Jan 2017Series AAtomico (lead)$8M-Scandit is a Swiss technology company providing smart data capture software that enables barcode scanning, text recognition, and object detection using smart device cameras for enterprise workflows in retail, logistics, and manufacturing. Scandit closed a $7.5 million Series A funding round on January 10, 2017, led by Atomico to develop its hardware-agnostic data capture platform and cloud services, and expand sales offices in the US and Europe. The funding supported growth in mobile barcode scanning technologies amid rising smartphone camera adoption.
Mar 2014AngelAriel Luedi (lead)$6M-Scandit, founded in 2009, develops software-based barcode scanning and data capture platforms for smartphones, tablets, and wearable devices, positioning itself as a cost-effective alternative to traditional hardware scanners in the BYOD market. The company serves more than 12,000 licensees across 80 countries and processes hundreds of millions of scans per year as of the funding announcement. It has established leadership in mobile barcode scanning for both consumer and enterprise use cases. In March 2014, Scandit raised $5.5 million in its first outside funding round, led by Ariel Luedi, CEO of hybris, with participation from other high net worth technology entrepreneurs experienced in enterprise software. Ariel Luedi joined the Scandit Board of Directors. The funds are allocated to international expansion, heavy investment in R&D for disruptive data capture technologies and cloud services, building sales and marketing teams, and targeting enterprise customers in Europe and North America, particularly the US.

Who has invested in Scandit?

13 investors have backed Scandit across its funding rounds, including Atomico, GV, NGP Capital, Swisscom Ventures, Kreos Capital and G2 Venture Partners.

Lead investors include Warburg Pincus, G2 Venture Partners, GV, NGP Capital, Atomico and 1 other investor.


Scandit Investors

Investors in Scandit by funding rounds participated
InvestorHQRoundsRoleFirst check
AtomicoUnited KingdomLondon4LeadJan 2017
GVUnited StatesSan Francisco, CA3LeadJul 2018
NGP CapitalUnited StatesSan Francisco, CA3LeadJul 2018
Forestay CapitalSwitzerlandGeneva2ParticipantMay 2020
Kreos CapitalUnited KingdomLondon2ParticipantMay 2020
Swisscom VenturesSwitzerlandZurich2ParticipantMay 2020
G2 Venture PartnersUnited StatesSan Francisco, CA2LeadMay 2020
Salesforce VenturesUnited StatesSan Francisco, CA1ParticipantMay 2020
Schneider ElectricFranceParis1ParticipantFeb 2022
Warburg PincusUnited StatesNew York City, NY1LeadFeb 2022
Ariel LuediSwitzerlandZurich1LeadMar 2014

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Acquisitions by Scandit

Scandit has acquired 1 company to date.

Last acquisition by Scandit was on August 21st 2024. Scandit acquired MarketLab for undisclosed valuation.


Latest Acquisitions by Scandit

MarketLab
Description
MarketLab is a Warsaw-based developer of sales enablement technologies for Polish enterprises. It provides CRM integrations, lead scoring algorithms, and dashboard analytics for B2B sales teams.
HQ CountryPoland
HQ City
Lodz
Deal Date21 Aug 2024
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Scandit Competitors

Scandit competitors include listed companies like HTC and Kopin, and private ones like Spree3D, 3D Cloud, Even Realities and Fiture.

Public and private companies comparable to Scandit
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Spree3DUnited StatesLake Tahoe, NVPrivate--$1.5B-
3D CloudUnited StatesUnited StatesPrivate$15M-$135M9.0x
Even RealitiesGermanyBerlinPrivate--$1B-
FitureChinaChengduPrivate--$1B-
HTCTaiwanTaiwanPublicly listed$91M$22M$1B6.9x
KopinUnited StatesUnited StatesPublicly listed$38M$3M$877M15.6x

Scandit Public Comps

Scandit is still privately-owned, but its public comps include HTC, Kopin, Cover, Sun Corp., Surgical Science, Vuzix, GOLFZON Gold, Kudan, Gumi and MicroCloud Hologram.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
HTC$91M$22M6.8x6.9x27.7x(6.2x)
Kopin$38M$3M22.2x15.6x338.7x(97.7x)
Cover$317M$34M1.9x1.9x17.6x9.8x
Sun Corp.$64M-21.8x22.2x--
Surgical Science$101M$18M1.9x1.9x11.2x9.4x
Vuzix$6M($29M)35.9x33.9x(7.7x)-
GOLFZON Gold$258M$40M1.3x-8.6x-
Kudan$8M($1M)12.1x13.3x(79.7x)-

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Common questions about Scandit

When was Scandit founded?Scandit was founded in 2009.
Where is Scandit headquartered?Scandit is headquartered in Zurich, Switzerland.
Is Scandit publicly listed?No, Scandit is a private, VC-backed company.
What is Scandit's valuation?Scandit was last valued at $1B in its Series D in February 2022.
How much funding has Scandit raised?Scandit has raised $273M across 5 funding rounds.
What was Scandit's last funding round?Scandit's last funding round was a $150M Series D in February 2022, led by Warburg Pincus.
Who are Scandit's investors?Scandit's investors include Atomico, GV, NGP Capital, Forestay Capital, Kreos Capital, Swisscom Ventures, G2 Venture Partners, Salesforce Ventures, Schneider Electric, Warburg Pincus and 3 others.
Which companies are comparable to Scandit?Companies comparable to Scandit include Spree3D, 3D Cloud, Even Realities, Fiture, HTC and Kopin.
How many companies has Scandit acquired?Scandit has acquired 1 company, including MarketLab.

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