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XponentialWorks, a California-headquartered venture investment, advisory and product development firm for 3D printing and other Industry 4.0 technologies, has announced the expansion of its Innovation Labs based in Ventura, CA, with the opening of a new manufacturing facility. The new building will double its existing floor space, and was established to reflect the growth of XponentialWorks’ portfolio companies, which are beginning to commercialize their products and services.
With the expansion of its manufacturing facility, XponentialWorks is aiming to provide an increase in sourcing and supply chain operations, while its portfolio companies undergo the commercialization of their products. This will help create business opportunities for hardware and software suppliers within local and regional areas.
Significantly, the expansion is also part of a bid from Reichental to establish an alternative tech capital to Silicon Beach in Ventura County, cementing the region as a new innovation hub geared towards “reviving and expanding the manufacturing space.” Ventura offers lower facility and operational costs, and is in a prime location for sourcing talent, according to XponentialWorks. Since its founding the company has created dozens of jobs in Ventura, and with the new manufacturing space and expanded innovation lab, it is expected that XponentialWorks will create over 100 more jobs within the next year.
These upstarts are typically recruited and brought under the XponentialWorks umbrella, some taking up the offer of relocating to Ventura from places like Krakow, Poland (NXT Factory) or Rome, Italy (Nexa3D), and others remaining at home. The outlier in this regard within XponentialWorks’ eight-strong portfolio is ParaMatters, a generative design software company founded by Reichental and Michael Bogomolny on the back of a napkin.
“Ventura is quickly becoming the heart of our portfolio companies’ efforts to digitize the future of manufacturing,” added 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.”
Earlier this summer, XponentialWorks descended on Detroit for RAPID + TCT 2019, showcasing three portfolio upstarts for what might be the last time on North American soil.
Having taken in the morning keynote as a collective, in which Todd Grimm mentioned all three in his round-up of new and exciting technologies being presented at the show, Reichental gathered in a circle the teams of ParaMatters, Nexa 3D and NXT Factory.