The company did not announce a valuation, but Reuters reported the cash infusion values the company at around $350 million.
Seurat’s green energy-powered Area Printing technology allows for the elimination of greenhouse gas emissions from the parts manufacturing process while also possibly eliminating supply chain issues, according to the company.
Seurat anticipates its printing technology will have the potential to directly mitigate as much as 100 million tons of CO₂ by 2030.
Founded in 2015, the company has now raised nearly $180 million, per Crunchbase data. New investors in the Series C include Honda Motor and Cubit Capital. Previous investors that took part in the new round are True Ventures, SIP Global Partners, Porsche Automobil Holding, Denso Global, General Motors Ventures, Maniv Mobility and Xerox Venture Capital.
The round for Seurat is the largest raised by any 3D printing startup this year, according to Crunchbase data.
In general, funding to such startups has been down this year. In 2021, 3D printing companies raised nearly $1.7 billion, per Crunchbase. That number fell to about $1.2 billion last year and thus far this year such startups have seen only $677 million roll their way.
Seurat’s round also marked just the latest investment deal by Nvidia and its venture arm this year. The chip giant has been very busy this year, often investing in AI-related startups.
Some of the biggest deals it has taken part in this year include:
- Databricks‘ $500 million-plus Series I led by funds and accounts advised by T. Rowe Price Associates last month. The deal values the startup at $43 billion.
- Adept AI’s $350 million Series B in March that gave the San Francisco-based startup a post-money valuation of at least $1 billion. Adept is developing AI models that cannot just respond to text commands — like a chatbot — but actually turn that command into actions. In theory, the company’s generative AI could help users do tasks from browsing the internet to navigating enterprise software tools.
- Toronto-based Cohere’s $270 million round in May. The startup’s AI platform competes with OpenAI.
- Drone startup Skydio’s $230 million Series E at a $2.2 billion valuation in February.
- Nvidia’s Been Busy — Real Busy
- Databricks Raises Massive $500M-Plus Series I At $43B Valuation
- AI Startup Cohere Locks Up $270M At $2.2B Valuation
- Adept Latest AI Startup To Raise Big — Nabs $350M
- Drone-Maker Skydio Raises $230M At $2.2B Valuation
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Illustration: Dom Guzman
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