NIKE, Inc. Takes Strategic Stake In Grabit, Inc. - An Automation and Materials Handling Start-Up
October 07, 2013
BEAVERTON, Ore. October 7, 2013 – NIKE, Inc. (NYSE:NKE), 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.
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. “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.”
About NIKE, Inc.
NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly-owned NIKE, Inc. subsidiaries include Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories; and Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories. For more information, visit www.nikeinc.com or follow @Nike.
About Grabit, Inc.
Grabit, Inc. manufactures electroadhesion-based material handling solutions for manufacturing, logistics, and service industries. Electroadhesion is an electrically controllable adhesion technology that requires ultra-low power consumption. Grabit’s products include grippers, fixtures, and smart conveyors. These products enable new applications and deliver customer-validated direct and dramatic benefits to the bottom line with unprecedented flexibility, performance and low operating costs. For more information visit www.grabitinc.com