Santa Clara, California – Material handling technology company Grabit has garnered an undisclosed amount of Series A institutional venture capital financing.
Grabit has created electroadhesion-based gripping products to improve the holding or grasping of objects in an industrial or manufacturing setting.
Formation 8 led the round, which also included ABB Technology Ventures and Nike.
The company said it would use the financing to continue the commercialization process of its technology.
A VC in Vacationland 
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