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Glowforge raises $22M in new funding from Foundry Group and True Ventures to scale up production of 3D laser printers – GeekWire.

Glowforge, the Seattle-based startup which makes 3D laser printers, today announced a $22 million investment round. Previous investors Foundry Group and True Ventures participated in the Series B round, which brings total funding for the 2-year-old company to $31 million. The Seattle startup set a crowdfunding record last year by raising nearly $28 million from thousands of backers who pre-ordered its 3D laser printer in October.

Glowforge has delayed shipments of initial orders twice. The company’s original plan was to start shipping the “first units” in December, two months after the crowdfunding campaign ended. But in February, Glowforge said those shipments were delayed, telling the initial backers who pre-ordered during the 30-day campaign that they’d now receive their printers in June.
Then, this past April, Glowforge again delayed shipments due to power supply issues and pushed the delivery date back to December 2016.

Read more & here is the post from Brad Feld one of the investors.

When we led a $9 million financing in Glowforge a little over a year ago, we were excited about the potential to do to the subtractive 3D printing world what we did with MakerBot in the additive / FDM 3D printing world.

While they didn’t need any additional money at this point, they were willing to let us do a financing to have major cash on the balance sheet that would allow them to weather any challenges. Given the extreme demand we had from the pre-order campaign, we are expecting this to accelerate once we start shipping, so it made sense to raise more money right now to support growth so the company could focus 100% of it’s energy on customers and product.

This brings the total-total to: $59.67M in 4 Rounds from 5 Investors. $27.4M coming from the pre-orders last year.