Seurat Technologies raises additional $21m in Series B extension

Expand

Seurat Technologies

Metal 3D printing firm Seurat Technologies has announced the closing of a $21m Series B extension, bringing its total funding up to $79m.

The company has secured the additional $21m through contributions from existing investors, such as Capricorn’s Technology Impact Fund, True Ventures and Porsche Automobil Holding SE, and new investors like Xerox Ventures and SIP Global Partners. It had initially raised $41m in its Series B round, with Capricorn leading the investment. 

Seurat is bringing to market a metal 3D printing technology called Area Printing that is said to be powered by 100% renewable energy. It claims to have secured seven letters of intent from companies operating in the automotive, aerospace, energy, consumer electronics and industrial sectors to join its commercialisation programme, which is set to begin launching this year.

With this latest round of funding, Seurat intends accelerate the build of its production-grade system, which is currently said to be able to facilitate the production of parts at $300/kilogram. The company aims to bring this down to $150/kilogram by 2025. Seurat is also looking to use the funds to attract ‘top talent’, after doubling its headcount in 2021 and recruiting the likes of Anthony Di Paola to CFO, Joyce Yeung to Senior Director of Marketing and Amy Donahue as Controller.

“Seurat’s mission is to make manufacturing better in every way by embracing the agility and design freedom of 3D printing, but not at the same expense,” commented James DeMuth, co-founder and CEO of Seurat. “Area Printing decouples resolution and speed, which is the secret sauce to making 3D printing a high-volume process. We are working with the world’s largest manufacturers in migrating their designs to Area Printing to help them gain lead-time, cost and quality advantages, while making a positive environmental impact.”

“Xerox Ventures is investing in high growth start-ups that usher forth truly transformative business solutions across all industries,” added Tim Chiang, Investment Director at Xerox Ventures. “We believe that the future of how we make products will solve for today’s supply chain and sustainability challenges, and Seurat will help make that future a reality for mass production with their breakthrough advanced manufacturing technology.”

Want to discuss? Join the conversation on the Additive Manufacturing Global Community Discord.  

Get your FREE print subscription to TCT Magazine.