Seurat Technologies, Inc. announced that it has received $14.21538 million in funding from True Venture Management, LLC, General Motors Ventures, LLC, Porsche Automobil Holding SE, Next47 GmbH, Maniv Bioventures LLC
Seurat Technologies, Inc. announced that it has issued 7,217,761 series A preferred stock at a price of $1.9695 per share for gross proceeds of $14,215,380.2895 on January 17, 2018. The series A round of funding led by returning investor True Venture Management, LLC. The transaction also included participation from General Motors Ventures, LLC, Porsche Automobil Holding SE, Next47 GmbH, Maniv Mobility; a fund managed by Maniv Bioventures LLC. The shares are convertible, and non-redeemable. The shares carry non-cumulative, and participating fixed dividend rate of 8% per share per annum. The shares will be convertible into common shares at a fixed conversion price of $1.9695 per share. The round was raised at a post-money valuation of $40,319,334.