Seattle-based Glowforge, a 3D printer manufacturer, has raised $20 million in a Series E round.
According to the company, the funding announced on Wednesday will be used for new product development. Glowforge raised $135 Million since its inception in 2015.
In a press release, CEO and cofounder Dan Shapiro stated that 'Glowforge' was founded on the belief of anyone being able to express themselves in any way they wish. This funding will allow us to continue to support creators in creating magical products for many years to come.
Glowforge produces multiple 3D Printers, which range in price from $3,995 up to $6,995, as per the website of the company. Lasers are used to cut and engrave various materials including leather, metal, and chocolate. Glowforge raised $ 43 million in June. Shapiro said that the company was hiring remote workers, but some employees still came to the offices because the company has lab space in Sodo, and studio space at Pioneer Square.
Glowforge recently launched a new feature powered by artificial intelligence called Magic Canvas. Users can enter a brief description to have Glowforge create a 3D printed creation.
DFJ Growth and Foundry Group led the round. Revolution Group, True Ventures and other investors also participated. DFJ Growth invested in Twitter and Tesla, as well as OpenAI, which makes ChatGPT.
Glowforge has said that the printers have been installed in more than 4,000 schools across the U.S. Shapiro stated at the time of Glowforge's $43 million funding round in June that getting the product to as many schools as possible was Glowforge's priority.
Shapiro stated at the time that "kids as young and old as the grad student at UW can access these devices to use during their studies." Sometimes they are used for engineering and prototypes. They are sometimes used in art classes. They're sometimes used in humanities class to create amazing designs for entrepreneurship, and similar."