AAA Grabit reveals it has taken $25m

Grabit reveals it has taken $25m

US-based robotics technology developer Grabit has revealed $25m in funding from investors including corporates such as footwear and sportswear maker Nike, TechCrunch reported yesterday.

The company previously announced several funding rounds of undisclosed size in 2013 and 2014.

The 2013 round was provided by Nike, engineering conglomerate ABB’s corporate venturing arm ABB Technology Ventures and VC firm Formation 8.

The 2014 deal involved supply chain products maker Flextronics’s early-stage investment arm Flex Lab IX and venture capital firm Draper Nexus Ventures.

Consumer electronics company Samsung, electrical equipment producers Brother Industries and Shanghai Electric, telecoms firm NTT Docomo and apparel producer Esquel Group as well as VC firm Danhua Capital have now also been revealed as backers, though details remain undisclosed.

Grabit, a spinout of research institute SRI International, has developed industrial robots that use electroadhesion to move different materials. Combined with machine learning, the company robots are able to layer textiles on top of each, and move items from eggs and glass to heavy boxes.

Leave a comment

Your email address will not be published. Required fields are marked *