Monday, February 1, 2010

Motorola Ventures Invests in Scanbuy for Mobile Barcodes

Motorola Ventures has made an equity investment in Scanbuy, a start-up offering mobile barcode solutions.

he platform provides a fast and easy way for advertisers to provide digital information to consumers through the use of barcodes and camera phones. With ScanLife, businesses can place one- or two-dimensional barcodes on their product packaging or in a magazine ad or other type of media. By using their ScanLife-enabled camera phones to view the barcode, consumers can immediately access information such as product reviews, price comparisons and coupon offers.

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.