Seurat Technologies has announced a $99M Series C funding led by NVentures, Nvidia’s venture capital arm and Capricorn’s Technology Impact Fund focused on climate solutions.
This latest funding round also included participation from new investors Honda Motor and Cubit Capital, among others, as well as participation from previous investors, True Ventures, SIP Global Partners, Porsche Automobil Holding SE, Denso Global, General Motors Ventures, Maniv Mobility LP, and Xerox Ventures.
Seurat’s Area Printing technology, developed at Lawrence Livermore National Laboratory, is looking to introduce localised production facilities and use renewable energy in order reduce emissions caused by manufacturing.
The company’s pilot factory in Boston, USA, will have the capacity to produce more than 25 tons of metal parts annually, with a commitment to develop 59 tons of 3D printed components for Siemens Energy turbines over a six-year period.
In all, Seurat says it has provisional orders from six customers totalling 4,000 tons of material and over $750 million in projected revenue
“This new funding will enable Seurat to unlock our next phase of growth, deploy our new machines and scale our factory capacity to meet current demands,” said Seutay CEO James DeMuth.
“Our mission is to create a green manufacturing industry. With our additive manufacturing technology, our print factories will provide our customers with clean manufacturing that can compete with the volumes, quality, and price points of traditional manufacturing.”
“Accelerated computing is unlocking new capabilities within the manufacturing industry, while creating a path toward sustainability,” said Mohamed Siddeek, corporate VP and head of NVentures. “Seurat’s green approach to manufacturing will help transform industry standards.”
