Toggle, a construction robotics startup, has raised $8M in Series-A funding. Toggle delivers rebars with high precision at low cost and high speed to the customers.
Toggle is a NewYork based Construction robotics company founded in 2016. Its mission is to offer technology to the construction industry that will contribute to an advanced level of – safety, efficiency, and precision in the manufacturing of crucial construction components. Toggle is a fully automated and robotic solution for rebar fabrication and assembly. It offers cut, bent steel reinforcement, or rebar to the customers in the Construction sector. Toggle software integrates with CAD or BIM rebar detailed drawings and provides a smooth digital workflow throughout the production and delivery process.
Toggle’s digital Fabrication system contains software, hardware, and services. Toggle’s software is called Toggle OS. In Toggle OS, you can indicate the rebar gauge, dimensions and stirrups shape, etc. It is a cloud-based application, and you can access it on your mobile phone. It shows the 3D visualization of cage configuration, and then It exports the 3D configuration to the robotic assembly.
Toggle has recently announced that they had raised $8M in the Series A stage of funding. They intend to allot this capital for scaling their production capacity, including starting a new, 50,000 square-foot production facility and expanding the team. Newyork based venture capital firm has led this round, and the firms such as Blackhorn Ventures, Point72, New York State, and Twenty Seven Ventures have joined this round of funding.
Toggle CEO Daniel Blank said:
“At a time when global construction is accelerating at an unprecedented pace, Toggle offers a way to add capacity while saving time and cost on some of the largest types of projects. We are especially grateful for our partners who are helping us to bring new tools and approaches to the fundamental building block of our built environment with a focus on renewable energy and sustainable urban development”.
Chip Meakem, the Managing Partner at Tribeca Venture Partners, said:
“We’re excited to work with Dan and the Toggle team on their mission to bring robotic automation to the construction industry. Reinforced concrete is one of the most consumed products globally, with the rebar process at its core. By applying machine learning and robotics to this process, Toggle can massively reduce cost and improve worker safety in this $500B/year market”.
Global Urbanization and Economic development have raised the unusual demand in the construction Industry. Toggle aims to serve the construction industry with tools and technologies to fulfill this demand quickly. Earlier, Toggle had secured $3 Million in seed funding. Toggle also supplies welded and wire-tired cages mats and meshes. They currently focus on refabrication, but they have plans on expanding to other construction materials.