Shop tools come in two varieties: Bring the work to the tool (i.e. table saw, bandsaw) or bring the tool to the work (circular saw, jigsaw). A laser engraver has always been in the first category, but now a Taiwan-based startup called Muherz has created one that falls into the second category.
Due to power limitations the Cubiio can only engrave on wood, paperboard, cardboard, fabric, felt, leather (and pancakes, I guess), but not metal, glass, concrete, stone or ceramics. Plastics are iffy, with transparent materials "not recommended."
As for how you calibrate it, the developers say it first fires a weak laser beam that visually outlines the engraving area, allowing you to confirm it's correct before you do any actual burning. It appears you must have your material 150mm to 160mm away from the lens. And the operation is driven by smartphone app.
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The Cubiio Kickstarter campaign has been wildly successful, with $212,980 pledged on a $25,000 goal at press time, with 34 days left to pledge. Early-birds are going for $299, with the device expected to retail for $449.