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.
Companies within XponentialWorks’ portfolio, like Nexa3D, will also benefit from the enhanced manufacturing infrastructure generated by the expansion, including an array of new Manufacturing 4.0 jobs. This will help to scale the companies commercial and manufacturing output.
“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,” explained Avi Reichental, CEO of XponentialWorks.
“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.”
Establishing Ventura as the new hub for Industry 4.0
XponentialWorks was founded by Avi Reichental, former CEO of 3D Systems, in 2015. The company aims to develop digital manufacturing and autonomous robotic technologies, including additive manufacturing, by combining the innovation of startups with the experience of mature businesses within its infrastructure. It focuses on investing in startups to nurture their growth and success, while assisting large, mature companies with digitalization.
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.
“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.”
Xponentialworks portfolio of 3D printing companies
Currently, XponentialWorks has a total of eight startups undernearth its venture portfolio, and five mid-size manufacturing companies as corporate partners.
Examples of startups within its venture portfolio includes the California-based 3D printer manufacturer Nexa3D, which recently unveiled the new Varseo XL SLA 3D printer at the International Dental Show (IDS) 2019 in Cologne. UNYQ, a company specializing in 3D printed medical wearables based in San Francisco, and NXT Factory, the California-based company behind Quantum Laser Sintering (QLS), are two more startups that have received investments and mentoring from XponentialWorks.
The company has also established corporate partnerships with the likes of XYZprinting, a Taiwanese 3D printer manufacturer, and Nano Dimension, a pioneer in the 3D printing electronics market. Avi Reichental himself joined Nano Dimension’s board of directors in 2017.
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Featured image shows XponentialWorks Exterior. Photo via XponentialWorks.