Construction Robotics Company Toggle Gains Funding

July 2, 2021

Toggle, a construction robotics company using automation in rebar assembly for reinforced concrete construction, has announced the closing of an $8 million Series A funding round.

The new funding will allow Toggle to scale their production capacity, including opening a new, 50,000 square-foot production facility and growing the team. Tribeca Venture Partners led the round of financing, and is joined by Blackhorn Ventures, Point72, New York State, and Twenty Seven Ventures.

“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," said Toggle CEO, Daniel Blank. "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.”

Toggle says its software and hardware technology works in conjunction with industrial robots and heavy material handling equipment to increase safety, productivity, and precision in the rebar assembly process.

“We’re excited to work with Dan and the Toggle team on their mission to bring robotic automation to the construction industry," said Chip Meakem, managing partner at Tribeca Venture Partners. "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 $500 billion per year market.”

Source: Toggle