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Grabit Grabs $8 Million Venture Equity Funds

Tuesday, June 9, 2015 5:31:00 AM PDT | VentureDeal
   Santa Clara, California  --  Advanced materials technology company Grabit has received $8 million in new equity investment, according to an SEC regulatory filing.

Grabit has developed and patented electroadhesion-based gripping products that it says will "disrupt the world of robotics and material handling by providing a technique of holding or grasping objects with no actuation and little power required."

Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.

Grabit is backed by a syndicate of venture capital and strategic investors.

The company closed its Series A venture round in October 2013.

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