INSUBCONTINENT EXCLUSIVE:
Toggle, a Brooklyn-based robotics startup, announced today that it scored $3 million in seed funding
The early-stage round was led by Point72 Ventures’ AI Group, with participation from Mark Cuban and VC Twenty Seven Ventures
The series follows a 2018 pre-seed round of $570,000 from its Urban-X accelerator, Urban Us, Accelerate NY / Empire State Development and
Perl Street Capital.The 15-person startup creates robotics that fabricate and assemble rebar
It’s designed to work in tandem with existing robotics and steel fabrication technologies, while speeding up the process up to 5 times, by
the company’s count.Toggle has already begun a soft launch “for a wide range of projects in New York City and the surrounding area,”
It expects to ramp up toward commercial production over the course of the next year and a half
CEO Daniel Blank tells TechCrunch that the seed round will be used toward R-D and growing the Toggle team.“This funding will be used to
further develop our technology — both the hardware and software — around assembly and fabrication automation, as well as grow the
engineering team that supports this development,” Blank tells TechCrunch
“The funding also provides us with a strong foundation for our manufacturing operation which is already supplying services and materials
to customers in New York City and the surrounding region.”
