PALO ALTO, Calif.-ScanR Inc. launched a service enabling mobile-phone users to take pictures of whiteboards and documents, e-mail them to the company for processing, then direct the results to an e-mail address or fax number in PDF format. With the scanning, copying and faxing industry generating annual revenues pegged at $35 billion, the Palo Alto-based scanR hopes that its new service can grab a slice of a very large pie.
The announcement comes on the heels of ScanR’s news that it attracted $4.65 million in Series A venture capital financing led by Trinity Ventures.
ScanR’s service, which today is free on a trial basis, allows a user with a mobile phone with a 1-megapixel or better camera to photograph a whiteboard or document and then send it to ScanR. The company uses image-processing technology to clean up the image, identify key words and tag the document for later retrieval, and then sends it as a PDF file via e-mail or as a fax to the user’s chosen destination. Users can check ScanR’s Web site to see if their camera phone will work with the service.
In other Silicon Valley financing news, Wherify Wireless Inc. announced $45 million in debt and equity financing from Cornell Capital Partners. The company said it plans to use the funds to expand its manufacturing capabilities, along with other general corporate purposes. The agreement terminates Wherify’s investment agreement with Dutchess Equities Fund L.P., announced on Feb. 9. Wherify said it plans to issue secured convertible debentures to Cornell Capital Partners and would receive $5 million in gross proceeds.
Wherify develops patented wireless location products and services for communications and law enforcement and is known for its GPS-enabled mobile phones designed for children.
