Estrakon is in the midst of two things these days: wrapping up a six-figure seed capital round and a job-creation spurt.
The Ann Arbor-based LED sign manufacturer recently received a $250,000 investment from the Michigan Pre-Seed Capital Fund. So far it has raised $600,000 in this seed capital round, and hopes to close out the round when it gets to $750,000 by the end of the month. The investment is coming on the heels of some rapid growth in the nine-year-old firm's revenues and staff.
"Our revenues have tripled," says Philip Ochtman, president of Estrakon
. "The number of staff has gone up substantially. Last year we had eight people full-time and today we have 15. We expect to have 30-35 next year."
The company has a handful of interns today and is looking to bring on another 1-2 interns this summer, he says. The company is also looking to add independent sales people to its team.
develops, manufactures and sells LED edge-lit signs for businesses from its base on the south side of Ann Arbor. That energy-efficient technology uses 80-percent less energy than traditional light sources and contains no hazardous materials. It's also a technology that ages well.
"The LED space is growing very quickly," Ochtman says. "People seem to love the products we're putting out."
Source: Philip Ochtman, president of Estrakon
Writer: Jon Zemke