Feb 3
Toggle Adds New Strategic Investors to Series A Funding
January 2023, New York — Toggle Robotics (www.toggle.is) is announcing $3M of additional Series A funding to advance our mission of building innovative technology that accelerates construction to meet the needs of our changing world.
The additional funding comes at a critical inflection point for Toggle and the construction industry as the constantly evolving workforce and supply chain landscape continues to put pressure on costs and timelines for major projects. This investment will allow Toggle to begin licensing its Weaver Workcell and Toggle OS product line to customers in markets beyond the delivery radius of the Pennsylvania facility.
Among Toggle’s new investors is Tokyu Construction, a publicly traded and internationally active Japanese civil engineering and construction firm. Investing via Japanese VC Global Brain, Tokyu Construction recognized the potential applications for Toggle’s robotics technology in Japan and abroad.
“In Japan, the demographic and built environment landscape is changing rapidly. Trends like the declining birthrate and aging population, coupled with urbanization and major investments in infrastructure are driving not only a demand but a real need for innovation in construction technology.
Toggle’s robotics and software, as well as their growing proprietary data set from production operations, are particularly well aligned with our technology strategy. Tokyu Construction and Global Brain will leverage our resources to support Toggle in expanding international business, acquiring Japanese enterprise clients, and developing new products.” said Tokyu Construction Innovation Dept. General Manager Mr. Koichi Fujita.
“The challenges around workforce availability and cost dynamics in construction are becoming universal. We don’t see it as unique to one or two countries or markets, it’s a theme across the board. In some cases like the European market, you’ve already seen heavy investment and innovation in robotics and automation for construction materials for decades.” said Daniel Blank, CEO and co-founder of Toggle.
“Toggle is developing innovative technology to help their customers build swiftly, safely and sustainably,” said Empire State Development President, CEO and Commissioner Hope Knight. “Empire State Development’s New York Ventures is proud to invest in companies that make a positive impact on our world and Toggle is improving the way that public infrastructure, housing, and renewable energy systems are being built, for the better.”
In addition to deploying additional robotic capacity in 2023, Toggle is hiring for roles in both its engineering and operational teams.
About Toggle
Toggle is building new technology to accelerate construction timelines, save cost and improve worker safety for the world’s most ubiquitous building material: reinforced concrete. The company’s patent-pending robotics and automation solution for rebar assembly represents a new approach to building with rebar through a completely digital production process. In 2022, Toggle launched the world’s first robotics and automation focused rebar pre-assembly facility in Pennsylvania. This 50,000 square foot prefab facility serves customers in the renewable energy, infrastructure and urban high rise segments of the construction industry.
Toggle was founded in 2016, is headquartered in New York and is a startup alumni of the URBAN-X Accelerator and the Consortium for Research and Robotics at Pratt Institute. Toggle’s investors include Tribeca Venture Partners, Blackhorn Ventures, Point72 Ventures, Mark Cuban, ThirdSphere, Tokyu Construction/Global Brain, Takemura, Twenty Seven Ventures and New York State.
Visit: https://www.toggle.is/ and https://www.toggle.build
Careers: https://toggle.is/careers/
Contact: hello@toggle.is
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