~ Company secures strong local Nevada investor backing from Reno Seed Fund and Battle Born Growth Escalator ~
Carson City, NV — Semi Exact, a custom furniture company, in Minden, Nev., is creating a new category in the consumer goods market that changes the way people think about making, purchasing, and enjoying furniture. The company announced today it has received support from local investors Reno Seed Fund, a leading Nevada Angel fund, and Battle Born Growth Escalator, Nevada’s State Venture Program, which is overseen by the Nevada Governor’s Office of Economic Development (GOED).
“This deal is a great example of the effectiveness of Nevada’s State Small Business Credit Initiative (SSBCI) Venture Capital Program Battle Born Growth Escalator,” said Karsten Heise, Director of Strategic Programs GOED. “Federal dollars under SSBCI are leveraged by a multiple of private sector co-investments ideally with a substantial local stake, such as those from the Reno Seed Fund, in order to enhance the support for highly scalable small businesses in Nevada. Our office is currently working on the next phase of SSBCI, which received reauthorization under the American Rescue Plan Act (ARPA). With SSBCI 2.0 launching in early 2022 we will be hearing similar success stories.”
“Semi Exact is providing world-class products and high-quality manufacturing jobs that support family and community prosperity critical to strengthening the economy in rural Nevada,” said Patty Herzog, Director of Rural Economic and Community Development at GOED.
Semi Exact furniture components provide consumers with the base for ready to make projects ranging from floating shelves to coffee tables to sofas and more.
“Northern Nevada has really set itself apart from many regions in the nation with its focus on advanced manufacturing. The manufacturing facility that Semi Exact has built is impressive,” said Gene Wong, Managing General Partner of the Reno Seed Fund. “The capability they have to bring products from concept to prototype to market in less than 45 days, when it takes major furniture manufactures 6 to 9 months or longer, is remarkable. Semi Exact is a great addition to the diversified portfolio we have built over the past few years.”
Semi Exact’s products include durable recycled steel bed kits, table legs and furniture bases, hairpin and floating steel shelf brackets, and other furniture essentials that can be used to create thousands of thousands of different projects. Makers can learn from numerous tutorials for bedframes, seating and chairs, tables, desks, and more project inspiration on the Semi Exact website at www.semiexact.com.
“For some, building your own furniture can sound daunting. They think they don’t have the talent, skills or tools required to craft their own bespoke end table or headboard and bedframe,” said Semi Exact Co-CEO Elton Rivas. “Proving otherwise, tens of thousands of our customers over the past five years are among the 70 percent of households in the USA that do DIY projects every year. Semi Exact exists to empower the world to say, ‘I Made it’ by making it easy and enjoyable for anyone to make their own furniture. With these two great investors joining us we look forward to expanding our business with more product offerings and availability for our customers around the country.”
A high-tech, lean, reconfigurable manufacturing facility in Minden, Nev., Semi Exact is the hub of product design, prototyping and scaling new products.
“We leverage automation and just in-time production that is scheduled off of the pull of real customers and matches their exact configurations,” said Matt Jensen, Semi Exact Co-CEO. “Transforming raw material to product and shipping in 3-5 business days, this provides a profitable manufacturing path domestically. We refer to it as a ‘personalized production process.”
About the Governor’s Office of Economic Development
Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and the Governor’s Office to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development. More information on the Governor’s Office of Economic Development can be viewed at diversifynevada.com.
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