Tech Crunch reported that New York based robot maker Toggle has added another USD 3 million to its coffers as part of a Series A Extension. In addition to hiring, the new funds will be used to ramp up its robotic production. Toggle CEO Mr Daniel Blank told TechCrunch “With a renewed interest in American manufacturing and production capacity and the investments pouring into infrastructure and renewable energy in particular but also batteries and microchips manufacturing, we have been successful at navigating the difficulties whether due to our category, a slowing economy or the pandemic. In this round, adding strategic investors, we’ve demonstrated that the problem of labor cost, availability and speed is really at the forefront for construction firms and they are going directly to the tech startups rather than through VCs to access solutions. The initial USD 8 million Series A was announced back in 2021. Japanese firm Tokyo Construction is a first-time investor in the startup, whose total raise is currently at USD 15 million. Toggle makes robots that bend rebar, the steel skeletal reinforcement you find in all manner of heavy construction. The company’s headcount is currently at 40, which the company plans to double over the course of the next year, following an upcoming Series B raise. Those roles will primarily be focused on engineering and operations.
Tech Crunch reported that New York based robot maker Toggle has added another USD 3 million to its coffers as part of a Series A Extension. In addition to hiring, the new funds will be used to ramp up its robotic production. Toggle CEO Mr Daniel Blank told TechCrunch “With a renewed interest in American manufacturing and production capacity and the investments pouring into infrastructure and renewable energy in particular but also batteries and microchips manufacturing, we have been successful at navigating the difficulties whether due to our category, a slowing economy or the pandemic. In this round, adding strategic investors, we’ve demonstrated that the problem of labor cost, availability and speed is really at the forefront for construction firms and they are going directly to the tech startups rather than through VCs to access solutions. The initial USD 8 million Series A was announced back in 2021. Japanese firm Tokyo Construction is a first-time investor in the startup, whose total raise is currently at USD 15 million. Toggle makes robots that bend rebar, the steel skeletal reinforcement you find in all manner of heavy construction. The company’s headcount is currently at 40, which the company plans to double over the course of the next year, following an upcoming Series B raise. Those roles will primarily be focused on engineering and operations.
