Laser cutting in Seattle Glowforge hardware launch announced this morning that he had raised another healthy round. The $43 million Series E joins the roughly $70 million the company has raised since its founding in 2015.
It’s been a few years since the firm received a massive raise, but the DFJ-led growth round will aim to accelerate research and development and commercialization of the company’s products. Over the past 8 years, the company has carved a good niche for its laser cutting and engraving systems.
The latest development of the company – Glowforge Pro – is positioned as a “laser 3D printer”. At its core, the $7,000 system is a modernized CNC machine with all modern conveniences, including Wi-Fi connectivity and a camera to monitor project progress in real time.
“We founded Glowforge because we believed in a world where people create things for themselves at home,” says co-founder and CEO Dan Shapiro. “With this fundraiser, Glowforge has the resources to expand our vision to empower the world to create magical things.”
The hobbyist market tends to have its limits – just ask anyone who has ever made a desktop 3D printer. The company got off to a really good start, raising over $27 million in its first ever crowdfunding campaign.
Education, as you might expect, also proved to be a strong growth market for the company. It is for this reason that 3D printing firms have shifted their focus to the classroom as they have reached a very real ceiling in the market for home users and enthusiasts.
” Firefly the printer serves as the creator’s personal factory,” DFJ partner Barry Schuler says in a press release. “Dan and his team are on a mission to democratize access to professional-quality creative options by allowing creators to bring their imaginations to the physical world in just minutes of purchase.”
The company has now carved a niche for itself with well-designed, user-friendly systems at proportionately high prices. And while the competition is no longer as fierce as it was at the height of the 3D printing boom, there are still questions about how much of a purposeful market there is for such specialized devices.
Credit: techcrunch.com /