# Grabit

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/grabit

- Industry: Business Support Services
- Headquarters: Sunnyvale, US
- Website: www.grabitinc.com
- Total disclosed funding: $5M
- Latest round: Series A (Oct 7, 2013)
- Investors on record: 3

## About

Grabit, Inc. is a technology company specializing in advanced automation solutions through proprietary electroadhesion technology, optimizing material handling for various industries, including logistics and manufacturing.Founded in 2013 and headquartered in Sunnyvale, US, Grabit, Inc. designs automation solutions that enhance material handling processes. The company has completed three deals, with the latest funding round being USD 25 mn raised on June 1, 2017, from individual investors. The founder's history is not provided.Grabit™ focuses on advanced automation solutions utilizing its proprietary electroadhesion technology to efficiently handle diverse materials, from fragile items to heavy packages weighing up to 50 lbs. Their solutions target traditionally labor-intensive processes, significantly improving efficiency for manufacturers and logistics firms. Grabit's technology is widely adopted by Fortune 500 companies across sectors like footwear, apparel, automotive, aerospace, and logistics, with a strong market presence in North America, Europe, and Asia.Grabit generates revenue primarily through B2B transactions with manufacturers and logistics firms, offering tailored automation solutions that leverage their electroadhesion technology. Pricing structures vary based on application complexity and deployment scale, catering to a diverse range of client needs.Grabit plans to develop new products centered around its electroadhesion technology, with additional releases expected in the near future. The company aims to expand into new markets, focusing on geographic regions that align with their growth strategy. The USD 25 mn raised in June 2017 will support these initiatives, enhancing their capabilities and market reach.

## Funding rounds

- Series A, Oct 7, 2013, $5M — NIKE, Inc., ABB Technology Ventures, Formation8

## Investors

- NIKE, Inc. — Series A
- ABB Technology Ventures (https://capitalatlas.ai/funds/abb-technology-ventures) — Series A
- Formation8 (https://capitalatlas.ai/funds/formation8) — Series A