NUBURU develops high-power, high-brightness industrial blue laser technology. The company is described in the article as a leading innovator in that field. Recently it secured new capital to support its growth. The funds will be used to strengthen the company’s development efforts. Proceeds are also earmarked to support fulfillment of initial purchase orders from new markets and new customers. The reporting states the financing was a $3M common-stock round from strategic investors. Founded in 2015 and based in Centennial, Colorado, NUBURU develops and manufactures high-power industrial blue lasers. The company is advancing commercialization of its blue-laser products and is seeking a longer-term credit facility to support that effort. To bridge to that facility, NUBURU agreed a secured bridge loan to finance operations in the near term. The bridge financing consists of zero-interest promissory notes issued with a 10% original issue discount that mature upon closing the anticipated credit facility or 12 months after issuance. The notes are secured by NUBURU’s patent portfolio, which was independently and preliminarily valued at $100 million, and include warrants exercisable for common stock equal to 100% of the note principal at $0.25 per share with a five-year term and specified repurchase rights. If notes remain unpaid after six or nine months they begin to bear interest (SOFR plus 9% and SOFR plus 12%, respectively) and additional 25% warrant coverage will be provided; the company also agreed registration rights for the underlying common stock by 1 February 2024. NUBURU is an industry leader in high-power, high-brightness blue laser technology used for metal welding and 3D printing, including its AO™ and AI™ laser product lines. The company says it will use recent financing to maintain investment in a next-generation AI product line and to pursue new technology development. NUBURU announced the issuance of over $5 million of convertible promissory notes to provide immediate funding and support its go-public transaction. The company is pursuing a business combination with Tailwind Acquisition Corp. and notes that the transaction structure includes a preferred share feature for non-redeeming TWND shareholders. NUBURU was founded in 2015 and is based in Centennial, Colorado. No operating metrics (revenue/users) were disclosed in the announcement. NUBURU develops high-power, high-brightness industrial blue lasers used to speed and improve welding and metal 3D printing of copper, aluminum, and other reflective metals. The company’s product family includes the AO™ and AI™ lasers and targets automotive, aerospace, consumer electronics, and defense markets. NUBURU says its technology delivers breakthrough speed and quality improvements for metal processing that increase manufacturer productivity. The company announced it raised additional growth capital at a valuation of approximately $350M and that existing investors Anzu Partners, GRAPHA Holdings, and Thomas Wilson participated. Management moves accompanying the financing include hiring Brian Faircloth as COO and promoting Andrew Dodd to VP of Global Sales to support commercialization. NUBURU plans to grow its customer base, expand distribution channels, accelerate development of its ultra-high brightness product family, and scale manufacturing to meet global demand. NUBURU produces high-power, high-brightness blue lasers that enable faster, higher-quality metal welding and additive manufacturing for materials like copper, stainless steel and aluminum. The company is advancing its high brightness AI Series industrial product line and plans to expand into energy storage, e-mobility and 3D printing markets. It is scaling operations and advancing a Denver-based automated production facility to meet customer demand. Recent executive hires (Dr. Guy Gilliland as CEO and Chris Baldwin as CFO) support planned product innovation and market expansion. NUBURU cites a strong IP portfolio and application expertise across sectors from electronics to aerospace. Founded in 2015, the company positions its blue-wavelength physics advantage as a differentiator versus prior laser technologies.

Total raised

$34M

Funding rounds

5

Latest round

Equity

Latest activity

Apr 2024