Scandit

Short description: Swiss technology company

Scandit

Type| Private
Industry| Technology
Founded| 2009; 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 Switzerland 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.

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]

## References

1. ↑ Tuck, Alex (14 April 2022). "Executive Q&A with Samuel Mueller, Co-Founder of Scandit". Technology Magazine. https://technologymagazine.com/data-and-data-analytics/executive-q-a-with-samuel-mueller-co-founder-of-scandit.
2. ↑ Kyora, Stefan (10 December 2020). "A good year for Scandit". StartupTicker.ch. https://www.startupticker.ch/en/news/december-2020/a-good-year-for-scandit.
3. ↑ Lunden, Ingrid (9 February 2022). "Scandit snaps up $150M at a $1B+ valuation for its computer vision-based data capture technology". Tech Crunch. https://techcrunch.com/2022/02/09/scandit-snaps-up-150m-at-a-1b-valuation-for-its-computer-vision-based-data-capture-technology.
4. ↑ Mitchell, Isabelle (9 February 2022). "Scandit raises USD 150 million and hits unicorn status". Venturelab. https://www.venturelab.swiss/Scandit-raises-USD-150-million-and-hits-unicorn-status.
5. ↑ Ettlin, Anna (21 June 2021). "I wasn't trying to save the world". D-INFK news channel. https://inf.ethz.ch/news-and-events/spotlights/infk-news-channel/2021/06/portrait-friedemann-mattern.html.
6. ↑ Wrobel, Peter (4 February 2011). "Europe's academic innovators recognised in ACES awards". Science Business. https://sciencebusiness.net/news/74745/Europe’s-academic-innovators-recognised-in-ACES-awards.
7. ↑ "Top 100 - The Best Swiss Startups 2011". 2011. https://www.top100startups.swiss/index.cfm?CFID=68542249&CFTOKEN=4d3c0a2f988e5651-B1274EA0-B35E-26C2-5D2719403A9F7AE8&page=136374.
8. ↑ Hainke, Thorsten (26 August 2011). "Nokia zeichnet Scandit aus". Venturelab. https://www.venturelab.swiss/index.cfm?page=130666&article_id=474.
9. ↑ "Funding Snapshot: Scandit Raises $7.5 Million Series A for Mobile Barcode Scanning". Wall Street Journal. 10 January 2017. https://www.wsj.com/articles/funding-snapshot-scandit-raises-7-5-million-series-a-for-mobile-barcode-scanning-1484083614.
10. ↑ Hassan, Umar (26 July 2018). "Supply Chain Computer Vision Specialist Scandit Raises $30m Series B Funding". Tech Monitor. https://techmonitor.ai/leadership/digital-transformation/scandit-30m-iot.
11. ↑ Nott, George (27 May 2020). "Scandit secures funding boost amid rising demand for 'contactless business' tech". The Grocer. https://www.thegrocer.co.uk/fundraising/scandit-secures-funding-boost-amid-rising-demand-for-contactless-business-tech/605197.article.
12. ↑ "Samsung Introduces Enterprise-grade Barcode Scanning for Samsung Galaxy XCover Pro". Samsung Newsroom. 12 October 2020. https://news.samsung.com/us/samsung-introduces-enterprise-grade-barcode-scanning-for-galaxy-xcover-pro.
13. ↑ Weston, Sabina (8 April 2021). "NHS to digitise coronavirus testing with new Scandit deal". IT Pro. https://www.itpro.co.uk/business-strategy/digital-transformation/359150/nhs-to-digitise-covid-tests-with-new-scandit-deal.
14. ↑ Rallu, Arthur (8 April 2021). "Barcode and QR-code scanning using Scandit". Google Cloud Community. https://www.googlecloudcommunity.com/gc/Announcements/Barcode-and-QR-code-scanning-using-Scandit/m-p/332189.
15. ↑ Lunden, Ingrid (9 February 2022). "Scandit snaps up $150M at a $1B+ valuation for its computer vision-based data capture technology". Tech Crunch. https://www.reuters.com/business/warburg-pincus-takes-stake-swiss-tech-firm-scandit-unicorn-hunt-2022-02-09/.
16. ↑ Halbach, Christian (28 February 2022). "SAP Warehouse Operator – A New iPhone Application for the Warehouse". SAP. https://blogs.sap.com/2022/02/28/sap-warehouse-operator-a-new-iphone-application-for-the-warehouse/.
17. ↑ "The Retail Tech 100: The top retail tech companies of 2022". CB Insights. 15 March 2022. https://www.cbinsights.com/research/report/retail-technology-startups/.
18. ↑ "DACH (Germany, Austria and Switzerland): Startups to watch in German-speaking Europe". Sifted. 2 June 2022. https://content.sifted.eu/wp-content/uploads/2022/06/01211837/Sifted-Pro-Briefing-DACH.pdf.
19. ↑ "Scandit Smart Data Capture Now Available in Pega Marketplace". Multichannel Merchant. 28 July 2022. https://multichannelmerchant.com/press-releases/scandit-smart-data-capture-now-available-in-pega-marketplace.
20. ↑ "Scandit, the Smart Data Capture Leader, Announces $150m Series D Investment Led by Warburg Pincus". Cision. 9 February 2022. https://www.prnewswire.com/news-releases/scandit-the-smart-data-capture-leader-announces-150m-series-d-investment-led-by-warburg-pincus-301478154.html.
21. ↑ Khaliq, Siraj (9 February 2022). "Congratulations to Scandit, Europe's newest Unicorn!". Atomico. https://atomico.com/insights/congratulations-to-scandit-europes-newest-unicorn.
22. ↑ "Scandit launches MatrixScan, a first-of-its-kind scanning and AR tracking capability". Logistics Management. 5 April 2017. https://www.logisticsmgmt.com/article/scandit_launches_matrixscan_a_first_of_its_kind_scanning_and_ar_tracking_ca.
23. ↑ "Scandit unveils ShelfView smart data capture and analytics tool". Retail Technology Innovation Hub. 13 January 2022. https://retailtechinnovationhub.com/home/2022/1/13/scandit-unveils-shelfview-smart-data-capture-and-analytics-tool.

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