Motorola Ventures has announced an investment in Scanbuy, a leading supplier of mobile 1D and 2D barcode solutions. Motorola acted as lead investor and was joined by Masthead Venture Partners, Hudson Ventures and select private investors. Financial terms of the investment were not disclosed.
“Motorola has looked at this market very carefully and believes that Scanbuy has the best combination of technology and strong ecosystem partners in its space,” said Reese Schroeder, managing director of Motorola Ventures. “Mobile barcodes are an extremely powerful tool for consumers, businesses and wireless providers, which makes this opportunity very exciting for Motorola. The camera quality, display capability and processing power of today’s smartphones, coupled with advanced network speeds, now enable consumers and the advertising community to fully take advantage of mobile barcode technology.”