---
title: Scancam Secures $500k Seedfunding | Spacecubed
description: Spacecubed residents, Scancam had a big win this week, announcing they have secured a $500,000 seed investment round, enabling them to begin scaling and make some essential hires to assist with growth
---

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# Scancam Secures $500k Seedfunding

By Spacecubed  23 August 2018

Scancam was founded in Perth by Eoin Byrne and Anthony Schmidt and is a cloud-based solution that provides smart anti fuel theft technology.

In WA alone, $6 million dollars of fuel is stolen each year and over $50 million dollars across Australia – with a critical mass, Scancam’s innovative solution can effectively reduce this to zero.

Eoin and Anthony became full time Spacecubed Residents in October 2014, walking through the door with a very early proof of concept. Within a few short months they had a working Minimum Viable Product, began testing Scancam on a few sites and soon after had revenue through the door.

We look forward to seeing Scancam grow into new and bigger markets over the coming months. Check out their coverage on Channel 9 news below to learn more about Scancam and founder, Eoin and Anthony.

 

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