Estrakon nets funding from Ann Arbor SPARK
Michigan-based LED manufacturer with global client base welcomes prominent board members and celebrates validation from funding source.
ANN ARBOR, Mich. – Estrakon, Inc. is in the process of completing a round of funding of $500-600,000 and has already received $250,000 in funding from Ann Arbor SPARK’s Michigan Pre-Seed Capital Fund this month.
The Ann Arbor-based manufacturer of LED animated and static displays is honored by the recognition this funding round confers on the company’s cutting-edge technology and design solutions for displays and signage.
“This obviously validates our business plan as the entire SPARK review board examined our technology and business plan in order to grant us this funding,” says Philip Ochtman, company president. “I am also very pleased to have Alon Kaufman join our board as his international business experience and contacts are invaluable to us.”
Ann Arbor SPARK is a non-profit business accelerator that aids the development of startups that offer valuable services and promise for the future. Estrakon’s funding comes from the Michigan Pre-Seed Capital Fund, which supports high-tech startups as they near commercial viability by gathering early-stage capital investment to speed company development. The fund targets companies throughout the state that are creating the newest technologies in competitive fields.
“Estrakon is changing the world of signage,” says Skip Simms, SPARK Senior Vice President and Manager of the MI Pre-Seed Capital Fund. “Helping early stage companies achieve rapid growth through game-changing technology and products is what the MI Pre-Seed Capital Fund is about. We are delighted to have Estrakon as our 62nd investment.”
With this round of SPARK funding, Estrakon is pleased to welcome Alon Kaufman to its board of directors. Kaufman co-founded HoMedics in 1987, a company which produces massagers, knee braces and other items that can now be found in department stores and retail outlets around the world.
“I have followed Estrakon’s progress over the last 2 years and feel it is really beginning to gain traction. I look forward to helping Estrakon meet its aggressive growth plans,” says Alon Kaufman.
Estrakon’s product line uses environmentally-conscious, edge-lit LED technology to help corporations attract attention to their products. Estrakon’s LED displays contain no hazardous properties, boast energy usage 80% lower than traditional light sources and are so beautiful, they capture attention readily.
Using the highest-quality LEDs, Estrakon offers RGB color matching capabilities for extreme precision. Its displays are super-slim, bright, light-weight, durable and unique in the retail and exhibiting world.
Established in 2003, Estrakon has seen exponential growth in the last year, as the company gained the ability to produce every step of its process in-house at its 10,000-square-foot facility here. Estrakon expanded last fall, creating Estrakon Europe Ltd., and principals are working on partnerships in Asia as well.
For additional information or to arrange a tour or interview, please contact Lynne Golodner’s personal cell phone at 248:376:0406 or email, lynne@yourppl.com.
-30-
For publication purposes, please include the following information: www.estrakon.com, (877) LED-LAMP.
For information or interviews, please contact Lynne Golodner's personal cell phone at (248) 376-0406 or lynne@yourppl.com.
For publication purposes, please include the following information: www.estrakon.com, (877) LED-LAMP.
Tags: