Barcode scanning firm Scandit has raised $150 million led by Warburg Pincus.
Scandit – co-founded in 2009 by Chief Executive Samuel Mueller – has raised almost $300 million to date from a wide range of investors including Atomico, Forestay Capital and Schneider Electric which invested alongside Warburg Pincus in the company’s latest cash call.
Scandit, whose client network includes American Eagle Outfitters and FedEx, was selected by Britain’s National Health Service to digitize the COVID testing process last year.
Revenue of Scandit has more than doubled since its previous fundraising in May as logistics companies increasingly rely on barcode technology to work with the likes of Amazon.com Inc in handling last-mile delivery between a distribution hub and consumers’ doorsteps.
Scandit will use the proceeds of the fundraising to drive global growth with a focus on Asia-Pacific. It will tap the robotics market as retailers are increasingly turning to machines to stock their shelves.
