Toggle Robotics Secures $8M Funding - Construction Technology

Toggle Secures $8 Million Series A Funding

Toggle, a construction technology startup headquartered in New York City, has announced the successful completion of an $8 million Series A funding round. This investment will fuel the company’s growth and expansion.

Investment Details

Tribeca Venture Partners spearheaded the funding round, with significant participation from Blackhorn Ventures, Point72 Ventures, New York State, and Twenty Seven Ventures. This latest financing builds upon a previously secured $3 million seed round completed in late 2019.

Growing Investment in Construction Robotics

The broader robotics sector has experienced substantial investment growth, particularly during the recent pandemic. Interest in construction-focused startups is also demonstrably increasing.

Just earlier this month, Dusty secured $16.5 million in funding for its innovative Field Printer technology. This highlights the rising trend of technological advancement within the construction industry.

Toggle’s Unique Approach

Toggle differentiates itself by focusing on automating a distinct phase of the construction process. The company’s robotic solutions are specifically designed for rebar assembly.

By employing robotics, Toggle significantly reduces the time required to assemble this crucial foundational building material.

Statements from Leadership

“As global construction activity reaches an unprecedented rate, Toggle provides a solution for increasing capacity while simultaneously reducing both time and expenses on large-scale projects,” stated Daniel Blank, co-founder and CEO of Toggle.

He further added, “We deeply appreciate the support of our partners, who are instrumental in introducing innovative tools and methodologies to the core elements of our built environment, with a particular emphasis on renewable energy and sustainable urban development.”

Future Plans

The newly acquired funding will be allocated towards scaling up production capabilities. This includes expanding the company’s workforce and upgrading its facilities.

Toggle is transitioning to a new, larger 50,000 square foot production facility to accommodate increased demand and manufacturing needs.