Glowforge, a Seattle-based innovator in 3D laser printing, has successfully garnered an extra $20 million in Series E funding, pushing its total investment to $135 million.
DFJ Growth and Foundry Group spearheaded the funding round, with additional contributions from Revolution Growth and True Ventures. This injection of capital is set to fuel innovation at Glowforge and facilitate the expansion of its product and service portfolio.
Established in 2015 by CEO Dan Shapiro and CTO Mark Gosselin, Glowforge introduced a groundbreaking 3D laser printer that can cut, engrave, and score a variety of materials. Unlike conventional 3D printers that rely on additive technology to construct objects from plastic, Glowforge’s printer employs subtractive technology. This innovative method allows it to cut and engrave creations from a wide range of materials such as wood, leather, acrylic, paper, fabric, and even edible items like chocolate.
Today, Glowforge’s unique technology is employed by over 100,000 creators and is incorporated into the educational programs of more than 4,000 schools across the United States.
The recent financing announcement comes on the heels of the launch of Glowforge’s Magic Canvas. This generative AI model crafts tangible products based on brief text descriptions. In a matter of minutes, Magic Canvas can transform simple phrases into unique creations made from the materials compatible with Glowforge’s printers. It uses a sophisticated latent diffusion neural network to convert a description into a tangible product, such as intricately designed hardwood jewelry, slate coasters, or visually striking desserts.
The additional funds raised will be directed towards further enhancing the features of Glowforge’s 3D laser printer, expanding the variety of services it provides, and pushing the boundaries of what’s possible in the realm of 3D printing.
