Seurat Technologies secures $99 million in Series-C funding

Seurat Technologies raises $99 million to build green metal 3D printing factories and reduce CO2 emissions in manufacturing.

WILMINGTON, MA - Seurat Technologies, a 3D metal printing provider, has announced a $99 million Series C funding round. This round was led by NVentures, the venture capital arm of NVIDIA, and Capricorn's Technology Impact Fund, which focuses on climate solutions. In addition, new investors such as Honda Motor and Cubit Capital, as well as existing investors such as True Ventures, SIP Global Partners, Porsche Automobil Holding SE, Denso Global, General Motors Ventures, Maniv Mobility LP and Xerox Ventures participated in this funding round.

Traditional manufacturing processes are responsible for a significant portion of greenhouse gas emissions, especially in the US where they account for 31% of emissions. These processes are time-consuming, hinder innovation, contribute to climate change and move jobs overseas. The Biden administration's investments in green manufacturing and the $6 billion commitment to reduce industrial emissions have brought this problem into focus.

Our mission is to create an environmentally friendly manufacturing industry. Thanks to our additive manufacturing technology, our print factories can offer clean production that can compete with conventional production in terms of quantity, quality and price.

James DeMuth, co-founder and CEO of Seurat

Seurat utilizes 100% green energy and is developing its Area Printing technology, which was developed at Lawrence Livermore National Laboratory. This 3D metal printing technology enables precise and environmentally friendly production on a large scale. It has the potential to directly save up to 100 million tons of CO2 by 2030.

The company plans to set up its printing factories worldwide at or near customer sites. This will allow parts to be produced closer to where they are needed, shortening supply chains and reducing emissions from transportation and logistics.

Accelerated computing power opens up new opportunities in the manufacturing industry and paves the way to sustainability

Mohamed "Sid" Siddeek, Corporate Vice President and Head of NVentures

"Seurat has developed innovative concepts and technologies for metal additive manufacturing, and Honda expects much from their future potential," said Manabu Ozawa, Managing Executive Officer of Honda Motor Co., Ltd. "Metal additive manufacturing technology will enable the enhancement of product value through innovative design. Honda will continue to seek out, collaborate with and invest in promising companies."

Seurat's pilot plant in the Greater Boston area will be capable of producing more than 25 tons of metal parts annually and is already overbooked. Seurat also has commitments to develop 59 tons of additively manufactured metal components for Siemens Energy turbines over a six-year period. In total, Seurat has LOIs from six customers for a total of 4,000 tons of material and over $750 million in projected sales over the next few years. The company currently has more than 275 granted and pending patents and trademarks.