Seurat Technologies raises $21 million to decarbonize manufacturing

WILMINGTON, Mass., January 19, 2022 /PRNewswire/ — Seurat Technologies, the leader in metal 3D printing that improves manufacturing for people and the planet, today announced the closure of a $21M Series B extension with investments from new investors Xerox Businesses and Global SIP Partners. Seurat’s latest funding benefits from the participation of previous investors including Capricorn’s Technology Impact Fund, True Ventures, Porsche Automobil Holding SE and Maniv Mobility, bringing Seurat’s total funding to $79 million.

Manufacturing is one of biggest contributors to greenhouse gas emissions, contributing 22% of emissions in the United States, which excludes the impact of shipping parts around the world. Companies need new solutions that reduce their carbon footprint and create a more resilient supply chain. To advance global zero emissions goals, address supply chain challenges and relocate manufacturing, Seurat’s area printing process is powered by 100% renewable energy and will help companies migrate manufacturing to from castings and other traditional manufacturing methods to achieve high volume production and reduce harmful pollutants to the environment. By operating at full production capacity, Seurat expects to displace 0.15 GT/year of carbon emissions by 2025.

Seurat’s mission is to improve manufacturing in every way by embracing the agility and design freedom of 3D printing, but not at the same price,” said James De Muth, 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 work with the world’s largest manufacturers to migrate their designs to Area Printing to help them win time, cost and quality benefits, while having a positive environmental impact.”

Seurat has already obtained seven letters of intent to join its go-to-market program from the world’s largest automotive, aerospace, energy, consumer electronics and industrial companies, and plans to launch its first commercial programs this year. The additional funding will be used to build Seurat’s production quality system which aims to produce parts to $300/kilogram — comparable to parts produced by machining. By 2025, Seurat plans to lower the manufacturing cost to $150/kilogram, which is comparable to castings. As Seurat grows, its technology will make the $1 trillion metal fabrication market fully accessible to additive manufacturing.

“Xerox Ventures invests in high-growth startups that are pioneering truly transformative business solutions across industries,” said Tim Chiang, chief investment officer at Xerox Ventures. “We believe the future of manufacturing our products will solve today’s supply chain and sustainability challenges, and Seurat will help make that future a reality for mass production through its advanced manufacturing technology. revolutionary.”

“We are exceptionally excited to join Seurat in its mission to reinvent precision manufacturing at scale,” added Jeffrey Smith, general partner of SIP Global Partners. “We strongly believe that the team, its technology and its industry partners represent a unique opportunity to create a much more efficient and sustainable global manufacturing ecosystem.”

Seurat’s funding will also help the company continue to attract top talent. In 2021, Seurat almost doubled its workforce and made several strategic recruitments, including that of Chief Financial Officer Antoine Di Paola. Di Paola brings over three decades of financial experience, including leadership roles at FGX International (where he led the company through the IPO process), General Electric and Thyssen Krupp Elevator. Other critical hires include Joyce Young as Chief Marketing Officer, John Rushton as director of market development, and Amy Donahue as controller, along with several other key electrical, mechanical, optical and laser engineers.

3D printing, also known as additive manufacturing, is gaining maturity and momentum, but still comes with trade-offs in speed, quality, scale, and cost. Area Printing was developed at Lawrence Livermore National Laboratory, and the company holds nearly 130 granted and pending patents.

To learn more about how Seurat is transforming manufacturing, please visit seuratech.com.

About Seurat
Seurat Technologies is transforming manufacturing for people and our planet. Area Printing by Seurat is the new generation of metal 3D printing designed for high-volume carbon-free industrial production. By decoupling resolution and speed, Seurat creates a scalable process that can rival traditional manufacturing in every way. Seurat’s pioneering approach was originally developed at Lawrence Livermore National Laboratory (LLNL) and has nearly 130 issued and pending patents. Learn more about www.seuratech.com.

SOURCE Seurat Technologies

Marjorie N. McClure