By Wailin Wong | Motorola’s venture capital arm said it made an investment in Scanbuy Inc., a technology company that specializes in bar codes for mobile phones. Financial terms were not disclosed.

Motorola Ventures, which typically invests between $3 million and $5 million in its portfolio companies, led a group of investors in the Scanbuy deal.

New York-based Scanbuy makes technology that allows business to put barcodes on product packaging, outdoor signage and magazine advertisements. Mobile phones equipped with this technology can view the barcodes through their cameras and call up information such as product reviews and coupons. Sears, for example, included the company’s barcodes in store displays for power tools, and Nike has put Scanbuy’s barcodes in print advertisements.

Motorola Ventures typically looks for strategic tie-ups in technology development and cross-marketing. In May, for example, Motorola signed an agreement with Apprion, a wireless technology company in which the ventures arm had invested in 2008. The two companies are now jointly developing and marketing wireless network technology for industrial clients.

Scanbuy’s barcode technology is available on mobile operating systems such as Android, iPhone and BlackBerry. Motorola is planning to launch 20 Android smartphones this year.