Nike Takes Minority Investment In Silicon Valley Robotics Startup Grabit
Nike yesterday announced that it is "taking a minority investment" in Santa Clara, Calif.-based startup Grabit, Inc., a company "in Silicon Valley’s emerging robotics technology field," according to Allan Brettman of the Portland OREGONIAN. How Nike will work with Grabit was "not immediately clear." Nike Global Communications Dir for Sustainable Business & Innovation Del Hudson said, "Grabit is still an early-stage technology and we are exploring different applications across logistics, distribution and in manufacturing." Grabit is an "industrial automation and materials handling solutions company." It announced yesterday that it has "secured Series A funding -- the first major round of outside investment." Grabit's current customers include "some Fortune 500 companies in industries such as warehouse automation, parcel handling, consumer products, and textiles" (Portland OREGONIAN, 10/8).