Zurich-based Scandit raised USD 150 million in a Series D led by Warburg Pincus, taking its valuation above USD 1 billion. Existing investors also participated, including Atomico, Forestay Capital, G2 Venture Partners, GV, NGP Capital, Schneider Electric, Sony Innovation Fund and Swisscom Ventures. The round brought the company's total funding to almost USD 300 million.
Scandit's software turns cameras on smartphones and other devices into tools for reading barcodes, text and identity documents and recognizing objects. The new capital was earmarked for research and development, hiring and international expansion, particularly in Asia-Pacific. Scandit said it served more than 1,700 customers and had doubled annual recurring revenue since its previous funding round in 2020.
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