Downtown tech manufacturer Factorli closes

Downtown Las Vegas tech manufacturer Factorli has closed.

The startup, which received support from Downtown Project, Tony Hsieh’s $350 million downtown redevelooment program, reported on its website that it shut down operations as of Monday.

The website posting said as of last week, Factorli founder Jen McCabe was no longer chief executive.

“As a part of this change, she will no longer manage hardware investments for VegasTechFund. Jen’s vision for removing complexity from the hardware development industry was ambitious and we look forward to seeing her achieve great things in the future,” the website posting said.

The site continued, “This is a challenging time for the Factorli team, but after an analysis of the company’s progress and future capital needs, it has been determined that it would be best to reallocate those resources to other Downtown investments. In consideration of the best interest of the team, the shareholders, and all parties involved, the difficult decision was made to cease operations and development of Factorli as of August 11, 2014.”

Hsieh was asked about the closing and responded in an email: “I’m not on the board of Factorli and just like the vast majority of other investments, I’m not close enough to them to know the details.”