Glowforge raises another $43M – Meczyki.Net

Seattle-based laser-cutting hardware startup GloForge announced this morning that it has raised another healthy round. The $43 million Series E joins the approximately $70 million the company has raised since its 2015 inception.

It’s been a few years since the firm saw significant growth, but the round led by DFJ Growth will go toward accelerating R&D and commercialization for the company’s products. The company has carved a niche for itself over the past 8 years thanks to its laser-cutting and engraving systems.

The company’s latest – the GloForge Pro – is being positioned as a “3D laser printer.” At its heart, the $7,000 system is a streamlined CNC machine with all the modern conveniences, including Wi-Fi connectivity and a camera to view the project in real time.

“We founded Gloforge because we believed in a world where people make things for themselves at home,” cofounder and CEO Dan Shapiro said in a release. “With this fundraising, GloForge has the resources to expand our vision to empower the world to create magical things.”

The hobbyist market has its limits – just ask anyone who has ever built a desktop 3D printer. The company got off to a solid start, raising over $27 million in its first crowdfunding campaign.

Education, predictably, has also proven to be a solid growth market for the company. This is precisely why 3D printing firms shifted their focus to the classroom as they hit a very real frontier in the home/enthusiast market.

“The glowforge The printer acts as a creator’s private factory,” DFJ partner, Barry Schuler, says in the release. “Dan and his team are on a mission to democratize access to professional-quality creative capabilities, giving creators the opportunity to see their To enable imagination to be brought out of the box into the physical world in minutes.”

Thus the company has carved a niche for itself with well-designed, user-friendly systems with a proportionately high price tag. And while competition isn’t quite as stiff as it was at the height of the 3D printing boom, the question is still how much of an addressable market is there for specialized equipment like this.