US-based metal printer developer Seurat Technologies has closed its $13.5m series A round with contributions from industrial technology and appliance producer Siemens and carmakers General Motors and Porsche.
The round was led by venture capital firm True Ventures and included VC fund Maniv Mobility, while General Motors and Siemens’ power and gas division participated through respective corporate venturing units GM Ventures and Next47.
Founded in 2015, Seurat is developing an industrial 3D printer that can manufacture metal additives at what it describes as “unparalleled” speed and resolution. The company had previously raised $3.4m in funding in a mid-2016 seed round led by True Ventures.
Seurat has built on research formulated at US government-backed research facility Lawrence Livermore National Laboratory (LLNL). One of the original LLNL team members, James DeMuth, is now Seurat’s chief technology officer.
Erik Toomre, Seurat Technologies’ chief executive, said: “These funds will give us the fuel we need to rapidly accelerate our ability to commercialise this breakthrough with an initial focus on the automotive, energy and aerospace sectors.”