Nike, Inc., through its strategic partnerships team, has taken a minority investment in California-based start-up Grabit, Inc., an industrial automation and materials handling solutions company. Grabit, Inc. announced this week it secured Series A round funding.
Other investors in the $3 million funding were ABB Technology Ventures and Formation 8.
Grabit makes automated products for the manufacturing and logistics industries including grippers and fixtures, case and box handling grippers, and smart conveyors that can handle a wide variety of objects, shapes, sizes and materials. These products use innovative electrically controllable adhesion technology that requires ultra-low power consumption which is good for energy efficiency and the environment.
“As an innovation company Nike sees strategic partnerships as a key element of our growth strategy,” said Nike’s Chief Operating Officer, Eric Sprunk, in a statement. “While this is still an early-stage technology, Grabit’s electroadhesion technology could certainly have a range of useful applications across logistics, distribution or manufacturing in the future.”
Grabit Inc.’s current customers include some Fortune 500 companies in industries such as warehouse automation, parcel handling, consumer products, and textiles.
Charlie Duncheon, CEO and co-founder of Grabit, Inc. said “The funding will enable Grabit to commercialize electroadhesion technology for existing and new customers in multiple material handling applications. We are also delighted to have strategic investors with such a broad global reach.”