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XponentialWorks, a venture, advisory and product development company specializing in artificial intelligence, digital manufacturing, 3D printing, robotics and the digital transformation of traditional businesses, announced the expansion of its Ventura-based Innovation Labs and the opening of a new manufacturing facility that will see its floor space double. The expansion reflects the rapid growth and expansion of XponentialWorks’ portfolio companies as each company is commercializing their products and services.
XponentialWorks expects that this expansion will create dozens of new high-tech and Manufacturing 4.0 jobs, and enhance the innovation and manufacturing infrastructure for the benefit of its portfolio companies, including NXT Factory, Nexa3D and Apollo Robotics, to scale their commercial and manufacturing activities.
XponentialWorks was founded by CEO Avi Reichental, a pioneer of 3D printing technology, futurist, serial entrepreneur and inventor. Since its founding in 2015, XponentialWorks has created dozens of high-tech jobs in Ventura as it has steadily built a large generative design and additive manufacturing companies. With its current expansion, the company expects to create more than 100 jobs within the next year. XponentialWorks is actively recruiting business and engineering professionals and interns.
As XponentialWorks portfolio companies commercialize their products, the expanded manufacturing facility brings increased sourcing and supply chain activities to generate new business opportunities for local and regional hardware and software suppliers as well as services and support functions. With this manufacturing space and innovation lab, Reichental says he is aiming to lead the charge to make Ventura County an attractive alternative to Silicon Beach as a new hub for high-tech focused on reviving and expanding the manufacturing space.
The Gold Coast offers distinct advantages with lower facility and operational costs while drawing on a large talent base with UC Santa Barbara nearby. The company is expanding its manufacturing operations and looking for additional quality suppliers.
“Ventura is quickly becoming the heart of our portfolio companies’ efforts to digitize the future of manufacturing,” says Reichental. “We built our entire ecosystem in Ventura seeking to differentiate from the overcrowded Silicon Beach and Silicon Valley economies and forgo the fierce talent market competition. The announcement of our third expansion in just 24 months underscores the fact that in selecting Ventura, we have selected a region that offers an attractive and qualified talent pool in a highly desirable community.”
XponentialWorks develops technologies designed to transform the future of manufacturing, transportation and connectivity. By combining the power of mature companies with the innovation and drive of young startups, XponentialWorks is developing a new way to cultivate new technologies that will impact our everyday lives such as self-driving cars, customized medical devices, and drones. XponentialWorks operates by uniting the forces of startups with the experience and deep market knowledge of mature companies. XponentialWorks mentors and invests in the growth and success of the startups, while assisting larger, more mature companies with their own digital transformation.
“Our ongoing growth and expansion validates our initial site selection in Ventura and reflects the growing needs of our portfolio companies and the resilience and endurance of our unique business model,” says Reichental. “Each of our portfolio companies now has greater resources to develop, manufacture and scale their commercialization efforts and more importantly, more opportunity to collaborate and collide with other startups and mature companies that together are developing game-changing solutions to some of society’s biggest challenges.”
Sources: Press materials received from the company and additional information gleaned from the company’s website.