Seurat Technologies secures $99 million in Series-C funding

Seurat Technologies Receives $99 Million for Green 3D Metal Printing Fabs and Reducing CO2 Emissions in Manufacturing.

WILMINGTON, MA - Seurat Technologies, a 3D metal printing provider, has announced a Series C funding round of $99 million. 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, particularly in the U.S. where they account for 31% of emissions. These processes are time-consuming, hinder innovation, contribute to climate change, and move jobs offshore. The Biden administration's investment in green manufacturing and $6 billion commitment to reduce industrial emissions have brought this problem into focus.

Our mission is to create a green manufacturing industry. Our additive manufacturing technology allows our print factories to provide clean production that can compete with conventional production in terms of volume, quality and price.

James DeMuth, co-founder and CEO of Seurat

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

The company plans to build its printing factories at or near customers' sites around the world. This will allow parts to be produced closer to demand, 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 Greater Boston pilot plant 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. Currently, the company has more than 275 issued and pending patents and trademarks.