Cibus Capital LLP, the specialist investment advisory firm focused on food and agriculture, has announced the exit of US-based vision technology company Adroit Worldwide Media, Inc. (‘AWM’), following Grainger’s acquisition of AWM’s technology, intellectual property and talent. The transaction was valued at USD 210m and represents a full realisation of Cibus’ investment across Cibus Enterprise Fund and Cibus Enterprise Fund II.
AWM provides real-time inventory visibility and automated restocking through computer vision and sensor fusion, serving retailers, warehouses and construction sites.
Cibus first backed AWM in 2021 through its venture strategy, initially via Cibus Enterprise Fund and subsequently increasing its position through Cibus Enterprise Fund II. Over the course of the investment, AWM rapidly ramped up deployments across food and industrial supply, such as partnering with Aramark in the rollout of its cashierless, autonomous micro-markets called QuickEats. Cibus held a minority stake throughout ownership.
Alastair Cooper, Head of Venture Investments at Cibus Capital, said: “AWM’s sale to Grainger validates our thesis that applying AI to physical supply chains creates measurable returns. Grainger’s scale and customer relationships make them the ideal buyer to deploy this technology at meaningful scale. We’re proud to have backed AWM’s team on their journey.”
For more information, please contact:
Montfort Communications
+44(0)7825670695
cibus@montfort.london
About AWM
AWM is a vision technology company with solutions for the global industrial supply, construction, and retail vertical. These solutions drive additional revenue and address problems that are critical to efficiency and accountability, disrupting the industry by enabling use cases not previously possible. AWM’s hardware and tech stack reinvents environments such as storerooms, toolrooms and stores by increasing throughput, reducing costs and providing transparency. Learn more at: https://www.awm.tech/
About Cibus Capital
Cibus Capital advises funds investing in the companies and technologies that drive greater efficiency and resilience across food and agriculture. Learn more at https://www.cibusfund.com/
About W.W. Grainger
W.W. Grainger, Inc. is a major distributor of maintenance, repair and operating products across North America and Japan. Grainger operates at significant scale, serving customers through its physical and digital infrastructure. Learn more at: https://www.grainger.com/
Legal References and Disclaimer:
References herein to “Cibus Enterprise Fund” are references to Cibus Enterprise Fund LP managed by Cibus Investments Limited. References to “Cibus Enterprise Fund II” are references to Cibus Enterprise Fund II LP managed by Cibus Investments II Limited. References to “Cibus” are references to both Cibus Enterprise Fund LP and Cibus Enterprise Fund II LP each advised by Cibus Capital LLP. References to “Cibus Capital” are to Cibus Capital LLP. Those members, consultants and employees of Cibus Capital LLP who are involved in advising Cibus are referred to as the “Cibus Team”. None of Cibus, Cibus Investments Limited, Cibus Investments II Limited or Cibus Capital LLP makes any representation as to the accuracy, reliability or completeness of this Press Release. This release does not constitute an offer to subscribe for interests in the Cibus funds or any other actual or prospective fund advised by Cibus Capital LLP.