Nike fund SRI spinoff Grabit | Silicon Valley Robotics
NIKE has joined Formation 8 and ABB Technology Ventures in funding Grabit’s $3 million Series A round. Grabit is an industrial automation and material handling solutions company. Grabit’s current customers include some Fortune 500 companies in industries such as warehouse automation, parcel handling, consumer products, and textiles. NIKE has recently filed patent applications for automating an entire factory in a bid to reduce manual labor costs and boost profit margins.
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