GV, Sony Innovation Fund, Schneider Electric and Swisscom Ventures helped data capture technology producer Scandit raise money at a valuation topping $1bn.
Switzerland-based data capture technology developer Scandit closed a $150m series D round yesterday featuring internet technology group Alphabet, consumer electronics manufacturer Sony, telecommunications firm Swisscom and energy equipment provider Schneider Electric.
The round was led by private equity firm Warburg Pincus at a valuation above $1bn and included NGP Capital, the venture capital firm sponsored by smartphone maker Nokia, as well as Atomico, Forestay Capital, G2VP and Kreos Capital.
Alphabet, Sony and Swisscom invested through GV, Sony Innovation Fund by IGV and Swisscom Ventures respectively.
Spun out of ETH Zurich, Scandit has developed data capture technology that enables devices such as smartphones, drones, digital glasses or robots to recognise and scan barcodes, text, identity tags and objects, even in challenging light conditions, at angles, on damaged labels and across several labels at once.
The company will use the series D funding to grow its international presence and team, with a…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
