3D metal-printing startup Seurat Technologies 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 (NVDA.O) venture capital arm.
Oct 30 - 3D metal-printing startup Seurat Technologies 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
"I expect that 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 in an interview, adding that proceeds from the financing round will be used to deploy its production printers.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.
"Seurat's local factory deployment model provides the industry with a solution to near-shore manufacturing and to increase the resiliency of supply chains," said existing investor Porsche Automobil Holding'sturbines over a six-year period and the startup said earlier this month that it had received letters of intent from global manufacturers exceeding capacity of its pilot factory in Massachusetts.
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