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XponentialWorks has announced the opening of a new manufacturing facility at its Ventura-based Innovation Labs.
The development has seen floor space double and could create more than 100 high-tech and high-skilled jobs within the next 12 months. It coincides with the increasing commercial presence of the venture firm’s portfolio companies. As of June 2019, ParaMatters, Nexa3D and NXT Factory are all now shipping their products.
XponentialWorks was founded in 2015 by former 3D Systems CEO Avi Reichental to assist a selection of start-up companies in developing and commercialising new additive manufacturing and industry 4.0 technologies. It also boasts partnerships with more experienced companies, helping to digitally transform those businesses, while linking them with its network of upstarts to test products, generate use case studies, and offer advice.
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.
Five of the eight – ParaMatters, Nexa 3D, NXT Factory, Apollo Robotics, and Centaur – have residence in Ventura, with medical wears company Unyq based elsewhere in the States, medical device firm Supercraft 3D headquartered in India, and e-Sports platform Blink operating out of Israel. All of these companies receive financial and marketing support, while the Ventura residents also share the same supply chain, manufacturing and packaging operations. “What’s the value of each younger company diluting themselves? Let’s build it once and serve everybody,” Reichantal reasoned at RAPID + TCT 2019.
With the expansion in Ventura now complete – the company’s third third one in 24 months, by the way – the XponentialWorks portfolio will have more room to manoeuvre in the R&D of new products and the manufacture and shipping of current ones, as well as welcoming an influx of talent to help drive the companies forward.
“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,” commented Reichental. “Each of our portfolio companies now has greater resources to develop, manufacture and scale their commercialisation efforts and more importantly, more opportunity to collaborate and collide with other start-ups and mature companies that together are developing game-changing solutions to some of society’s biggest challenges.”
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.