Momentum Dynamics is moving its headquarters to an 89,430-square-foot space in Malvern and is planning to hire 60 new employees, writes Natalie Kostelni for the Philadelphia Business Journal.

The new building at Great Valley Parkway will serve both as the company’s headquarters and its research and development center.

“This is going to be an R&D playground for the best engineers in the world,” said Andrew Daga, Momentum’s CEO.

The company was founded a decade ago and is currently in growth mode. In addition to moving out of its 15,000-square-foot offices in Malvern, Momentum has been raising money.

Out of a planned $35 million, the company was able to secure a total of $17.45 million in July. That is in addition to the around $25 million it has cumulatively raised to date.

“We’re still a startup that is entering a major growth phase,” said Daga. “We need more space, and we need more people.”

At present, the company employs 41 people, 15 of whom joined Momentum in the last two months. Now, according to Daga, the company is aiming for 100.

Read more about Momentum Dynamics in the Philadelphia Business Journal here.

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