Nvidia-backed startup Seurat hints at IPO after $99 million fundraise
Seurat Technologies, a 3D metal-printing startup, on Monday hinted at potentially going public in the medium term and said it had raised $99 million in a funding round co-led by chip designer Nvidia's venture capital arm.
With the latest series C funding round, the company's valuation will approach $350 million, said a source who asked not to be named.
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Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisit «I expect that (going public) is in our cards… 12-18 months is the earliest we would consider that… potentially more like 24 or 36,» Seurat CEO James DeMuth told Reuters, adding that proceeds from the financing round will be used to deploy its production printers.
The fundraise, co-led by Nvidia's NVentures and Capricorn's Technology Impact Fund, brought in new investors Honda Motor and Cubit Capital. Existing backers including Porsche, and venture capital units of Xerox Holdings and General Motors Co also participated.
Seurat is looking to bring parts manufacturing, with its green energy-powered Area Printing technology, closer to customer factories around the world in a bid to reshore supply chains and slash emissions.
Over the past couple of years, companies across industries globally have been looking to diversify supply chains to reduce their dependence on China to address business continuity concerns and as US-Sino trade tensions heat up.
«Seurat's local factory deployment model provides the industry with a solution to near-shore manufacturing and to increase the resiliency of supply
