Crowdfunding efforts heat up
Nomad Technologies is organizing the crowdfunding campaign for its manufacturing business on Kickstarter. Over the course of the campaign, the laser cutter startup expected to raise just under $ 30,000 from investors. However, Nomad Technologies has quickly left this goal behind as investors continue to push the fundraising effort at a rapid pace. So far, the manufacturing company has managed to raise more than $ 131,000 for its business from nearly 80 investors.
“A dream come true for me at Nomad Tech has been OKU Desk,” said Alfonso Rodrigo, co-founder of the startup business. “It is a project that we have been working on for a long time, and it is the first machine 100% designed by us from scratch.”
The funds generated for the manufacturing company will help Nomad Technologies produce its first wave of laser cutting machines. Early investors in the startup business have the opportunity to reserve a device at a discount from the expected retail cost of around $ 3,150.
After the crowdfunding campaign for the manufacturing startup concludes, Nomad Technologies plans to finish production and begin shipping its tabletop laser cutter to investors in November.
Democratization of digital manufacturing
Founded in 2016, the manufacturing business aims to give creative people greater access to equipment that has previously been used in large-scale industrial settings. Before creating a compact laser cutter and engraver, the Spanish startup developed other manufacturing tools, including milling machines and plasma cutters.
OKU Desk is the latest tool developed by the company for consumer and business use. The tabletop fabrication device uses a 7.5-watt blue diode laser cutter for a variety of different materials, including wood, fabric, leather, and acrylics. In addition, the laser has enough power to engrave harder materials such as slate, anodized aluminum and stainless steel.
To print a design, users simply load an image onto the device using a USB memory stick and preview the image on a touch screen before beginning the engraving process. The smoke generated during the printing process is automatically expelled through a built-in exhaust system, although the startup offers an additional air filtration system for poorly ventilated rooms.
Cutting in the laser industry
The global market for laser cutting machines is forecast to experience significant growth, with projections expected to reach $ 5.7 billion by 2022. The industry is expected to post a CAGR of 9.3% during the forecast period. .
Nomad Technologies joins a number of other companies vying for space in the laser cutting market. Seattle-based manufacturer Glowforge offers its own consumer-level laser printers. According to Crunchbase, Glowforge has successfully secured more than $ 70 million in investor funding since its founding in 2014. Flux, a Taiwan-based startup, also has a line of CO2 laser cutting machines aimed at hobbyists and business owners. .
