Paradigm co-led a $110 million funding round for on-demand manufacturing company SendCutSend. This deal demonstrates that the investment firm, which has long focused on the crypto space, is further expanding its investment scope to industrial infrastructure and automated production services. According to the company's disclosure, SendCutSend's valuation exceeds $1 billion following this funding round.
Valuation exceeding $1 billion
SendCutSend is run by founder and CEO Jim Belosic. The company stated that after years of not bringing in external venture capital and remaining profitable, this round of funding is primarily aimed at accelerating production expansion, rather than responding to order growth through price increases or extended delivery cycles.
Belosic stated that the company's overtime hours exceeded 35,000 hours in the past year, with demand consistently exceeding existing capacity. The company is currently maintaining approximately 100% year-on-year growth, and its existing financing methods are no longer sufficient to support larger-scale expansion.
SendCutSend primarily provides fast-delivery manufacturing services to clients in industries such as robotics, defense, aerospace, and automotive. The company's core strengths lie in software-driven processing workflows and automated material cutting; some custom orders can be completed in as little as 24 hours.
Investment in US factories over the next five years
Belosic stated that after the financing is completed, the company plans to invest more than $1 billion in U.S. manufacturing jobs and domestic materials over the next five years, and expects to allocate more than $250 million to expand existing factories and build new production facilities.
The company stated that the funds will be used to increase the number of factories, expand service coverage, increase production capacity, and keep prices low while maintaining short delivery cycles. Belosic also stated that he will retain control of the company and lead the long-term strategy after the financing.
This round of investors includes Paradigm co-founder Matt Huang, Sequoia Capital partner Andrew Reed, and Stripe co-founders Patrick Collison and John Collison. Belosic said he had avoided venture capital for years because many investors had limited understanding of the operating rhythm of manufacturing companies and often measured manufacturing companies by the growth return standards of software companies.
Paradigm continues to expand its investment scope.
This deal also reflects Paradigm's investment scope gradually expanding from the crypto-native market to adjacent areas such as payments, AI security, and industrial technology.
Earlier this year, Paradigm partnered with Stripe to launch Tempo, a blockchain network focused on payments, emphasizing high-speed stablecoin settlements and machine-to-machine payments. The project also introduced the Machine Payment Protocol to automate payment standards between AI and software systems.
In February of this year, OpenAI and Paradigm also launched EVMbench to test the ability of artificial intelligence systems to identify and fix vulnerabilities in Ethereum smart contracts. OpenAI stated at the time that this benchmark framework is primarily used to evaluate the performance of AI agents in blockchain financial security environments.
Paradigm has also been active in its crypto-native business recently. In April, it was reported that the firm was developing a prediction market trading terminal for professional users and researching internal liquidity businesses related to prediction market indices and regulated event trading platforms. Furthermore, Paradigm partner Dan Robinson recently proposed the PACTs scheme, attempting to allow long-dormant Bitcoin holders to prove wallet control in a more private way before the heated debate over the risks of quantum computing intensifies.
