Glowforge Announces $22 Million Series B Investment from Foundry Group and True Ventures to Bring 3D Laser Printers to Mass Production
August 01, 2016 01:55 PM Pacific Daylight Time
SEATTLE–(BUSINESS WIRE)–Seattle-based 3D laser printer company Glowforge today announced a $22 million Series B funding round led by Foundry Group and True Ventures. This investment round follows the largest 30-day crowdfund campaign in history last fall, during which Glowforge received $27.9 million in pre-orders.
Glowforge is a desktop laser that prints beautiful and useful products, from leather wallets to hardwood jewelry boxes, with a press of its single button. Designs can come from any software that can produce a PDF or a picture, such as Adobe Photoshop or Illustrator. Onboard cameras can scan drawings and convert them directly to designs as well.
Foundry Group and True Ventures returned after leading the $9 million Series A for Glowforge in May 2015. "We asked Dan if we could double down on Glowforge because we could see from their crowdfunding campaign and from the machine in our office that this was something magical and different," said Brad Feld, Foundry Group managing director. "Our firm has always focused on hardware that changes the way that people interact with technology. Also, I have to admit: we really love lasers."
While traditional 3D printing uses plastic to build up layer upon layer of material over the course of hours, Glowforge uses subtractive technology that can produce a product in minutes. The precision laser lets people create products from dozens of materials including leather, hardwoods, fabric, plastic, paper, and even chocolate.
"I co-founded Glowforge after I had the fortune to play with industrial lasers and see how they could make truly beautiful and useful products in the blink of an eye. This company is built around the idea of simplifying that technology and making it more affordable, so anyone can take their dreams from idea to creation," said Glowforge CEO Dan Shapiro. "Delivering Glowforge printers to beta customers and seeing their delight – and the beautiful things they create – is what makes our company tick. With this financing, we can deliver not just an amazing product to the people who've ordered it already, but we can scale up our American assembly line to make this available to schools, homes, and businesses around the world."
Glowforge's patent-pending technology unlocks the power of traditional CNC laser cutting/engraving systems for designers, artists, makers, and entrepreneurs. The Glowforge app runs on cloud software so users can print from any web browser, including a desktop, tablet, or phone. The 3D autofocus system automatically accommodates materials of different thicknesses. The dual onboard cameras let the user drag and drop their design, then preview their print for perfect results. The wi-fi connectivity means that – with the optional air filter – all you need is an outlet to locate the Glowforge printer anywhere in a home or business.
To complement the launch of its printers, Glowforge is announcing the forthcoming launch of its line of Proofgrade™ materials and a new, premium catalog of printable designs. Besides offering the fastest and highest quality prints, Proofgrade materials come with a UV barcode that allow the Glowforge printer to automatically detect the materials and adjust it settings for the perfect print, every time. Designs from the Glowforge catalog are simple to use so users can quickly print a handbag, picture frame, dollhouse, and more.
"When we first invested, it was because of the incredible hardware that the team demonstrated," said True Ventures partner Tony Conrad. "But when they showed us the gorgeous software, the beautiful catalog, and the high-quality Proofgrade materials that would let anyone be successful right out the box, we knew we wanted to be a bigger part of the story."
In the nine months since the crowdfunding campaign, the Glowforge team has grown from 14 to 33 full-time employees and currently lists more than 20 open positions at Glowforge.com/jobs. Glowforge printers ordered during the initial crowdfund are scheduled to ship in December 2016. Pre-orders are still available at 40% off MSRP at Glowforge.com; orders placed now are scheduled to ship March 2017.
Glowforge is a Seattle-based startup that makes a 3D laser printer. Glowforge's wireless desktop laser makes it simple for designers, artists, and makers to take products directly from digital design to reality. Unlike 3D printers that build objects out of plastic, Glowforge uses lasers to print products out of durable and beautiful materials like wood, leather, acrylic, paper and fabric. A sleek and efficient design makes this industrial-grade technology beautiful and affordable, and a friendly cloud-based app makes it easy to create amazing things with Glowforge. For more information, please visit https://glowforge.com/.