Mobeam this morning announced that it has raised $4.9 million in a Series A round of funding from Samsung Ventures, Mitsui, yet2Ventures and other unnamed investors.
The company has developed technology that enables mobile phones to interact with laser scanners used at retail and point-of-sale locations worldwide.
Mobeam says it will use the capital to establish its patented light-based communications technology as a new industry standard, and work with consumer and retail brands to develop and launch mobile couponing, ticketing and other mobile commerce initiatives.
Mobeam says traditional laser scanners used in major retail locations all around the world are unable to communicate with mobile devices adequately, due to the way handset screens are currently constructed. The company’s technology basically enables retailers to ‘mobeam’ a barcode displayed on a mobile phone or tablet accurately, using their current laser scanners.
Mobeam’s patented light-based communication technology utilizes LED tech to transform barcodes into a beam of light that every laser scanner can read. The technology can also simultaneously display 2D images and initiate NFC transmission, making it possible for retailers, brands and device manufacturers to develop mobile commerce strategies using existing infrastructures and technology.
Founded in 2010 as a spin-off from its parent company Ecrio, Mobeam is headquartered in Cupertino, California.