NEW YORK, Jan. 19, 2022 /PRNewswire-PRWeb/ -- SIP Global Partners announced today its investment in Seurat Technologies, Inc. The US-Japan VC firm participated in the oversubscribed $21M Series B extension round with new and existing investors including Xerox Ventures, Capricorn Investment Group, True Ventures, Porsche Automobil Holding SE, and Maniv Mobility.
Seurat is a provider of scalable metal additive manufacturing technology and components manufacturing. The company's revolutionary 3D metal printing platform allows for high-volume production while dramatically lowering cost and environmental impact.
The company's patented Area Printing platform decouples resolution and speed, allowing gains in lead-time, cost and quality. The technology originated at Lawrence Livermore National Laboratory where James DeMuth, co-founder and CEO of Seurat, was a co-inventor and key developer. The company has over 130 additional patents granted and pending.
"We are exceptionally excited to join Seurat in its mission to reinvent precision manufacturing at scale," stated Jeffrey Smith, General Partner of SIP GP. "We strongly believe that the team, its technology and its industry partners represent a unique opportunity to create a vastly more efficient and sustainable global manufacturing ecosystem."
Seurat's Area Printing process can be powered by 100% renewable energy and allows for greater materials recycling, thereby reducing carbon emissions and resource waste. The technology is expected to significantly decarbonize manufacturing by 2025, with .15GT of carbon emissions expected to be displaced annually.
"SIP's cross-border ecosystem across the US and Asia makes them the ideal venture partner as Seurat gains commercial traction in Asia," states Co-Founder and CEO of Seurat, James DeMuth.
Seurat's commercialization program will launch this year, with LOIs received from leaders in automotive, aerospace, energy and industrial manufacturing. Funding will be used for initial rollout of the commercial program, continued hiring, and development costs for the production-grade system.
About SIP Global Partners
SIP Global Partners invests in transformative US technology startups poised for large scale growth in Asia. SIP leverages its dual-headquarters in the US and Japan, its principals' 40-year history of building global companies and unique market access to accelerate growth for portfolio companies in Asia, including Japan, ASEAN and MENA. For more information, visit sipgp.com.
Melisa Brown, SIP Global Partners, +1 6307431602, [email protected]
SOURCE SIP Global Partners
These press releases may also interest you