Seurat Technologies secures $99 million in Series C funding to drive decarbonization in manufacturing.


Metal 3D printing company Seurat Technologies has secured a significant amount of funding in its latest funding round. The Massachusetts-based company raised $99 million in a Series C funding round led by NVentures and Capricorn Investment Group’s Technology Impact Fund. The funding will be used to further develop Seurat’s ‘Area Printing’ technology and establish localized metal 3D printing factories near customer sites worldwide.

Seurat’s ‘Area Printing’ technology aims to revolutionize manufacturing and reduce carbon emissions by bringing the production of parts closer to where they are needed. This eliminates the need for long-distance transportation and reshores supply chains, resulting in a more sustainable manufacturing process. The company believes that its technology has the potential to directly mitigate up to 100 million tons of CO2 emissions by 2030.

James DeMuth, co-founder and CEO of Seurat, expressed his excitement about the funding and the company’s plans for growth. He highlighted the potential of Seurat’s technology to disrupt and decarbonize the traditional metal parts manufacturing industry.

The funding round also attracted new investors such as Honda Motor and Cubit Capital, as well as support from previous investors including NVIDIA, True Ventures, and Porsche Automobil Holding SE. The participation of these investors underscores the confidence in Seurat’s technology and its potential to transform the manufacturing industry.

Seurat’s first pilot factory will be located in the Greater Boston area and has the capacity to 3D print over 25 tons of metal parts annually. The company has already secured letters of intent from six customers, projecting over $750 million in revenue in the coming years.

The investment in Seurat Technologies is notable considering the decline in venture capital funding for 3D printing companies during the first quarter of 2023. Despite this, Seurat’s innovative concept and sustainable technology have attracted significant interest and support from investors.

Seurat’s mission to decarbonize manufacturing aligns with recent initiatives focused on reducing industrial emissions. The Biden Administration has committed $6 billion to cut industrial emissions and promote green manufacturing. Seurat’s ‘Area Printing’ technology, powered by 100% green energy, offers a solution that addresses the environmental impact of the manufacturing industry.

With its recent funding, Seurat Technologies is poised to unlock its next phase of growth and accelerate the deployment of its 3D printing factories worldwide. The company’s commitment to sustainable manufacturing and innovative technology positions it as a key player in the transition to a greener, more efficient manufacturing industry.

London-based 3D printing software company, Ai Build, has recently secured a hefty $8.5 million in Series A funding. This injection of capital will be used to propel Ai Build’s product development plan and enable more clients in the industrial 3D printing space to access their cutting-edge artificial intelligence-driven software. In addition to this, the company has plans to expand its reach into North America by establishing a subsidiary in the United States. It doesn’t stop there – Ai Build also intends on continuing its growth trajectory across Europe.

On the other side of the pond, US-based titanium producer IperionX has received a letter of interest from the Export-Import Bank of the United States. This letter pertains to potential equipment financing worth a staggering $11.5 million. The purpose behind this financing is to support the development of IperionX’s Titanium Production Facility in Virginia. Ultimately, this initiative aims to bring US titanium supply chains back to American shores, reducing dependency on foreign nations. Anastasios (Taso) Arima, the CEO of IperionX, expressed his enthusiasm regarding this investment, highlighting the significance it holds for reshaping the U.S. manufacturing sector.

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The featured image showcases a metal 3D printed part by Seurat Technologies, providing a glimpse into the remarkable possibilities of this rapidly evolving technology.

Original source


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