Arborlight scores $1.7M in seed capital for LED tech
Arborlight is looking to increase the firepower of its business this year, and the Ann Arbor-based startup has a lot of dry powder to commit to that effort. The LED light company just raised $1.7 million seed round led by the Michigan Angel Fund. That cash will go toward commercializing its LightWell and further its sales reach across the U.S. "We have a lot of market pull right now," says Michael Forbis, CEO of Arborlight. "People are calling us from all over the country." The University of Michigan spinout is developing a sun-light-like LED light for both residential and commercial buildings. Its "daylight emulation system" utilized an energy-efficient LED light that can imitate sunlight down to the color, temperature, and other subtle details. It even has the ability to mimic the sunlight exposure outside by tapping into the local weather forecast. Check out a video on it here. The 5-year-old company currently employs five people and the occasional intern. It has hired two people over the last year and it is looking to hire two more in production positions right now. Arborlight also plans to pass the $1 million revenue milestone this year, and go well beyond it in in the near future. "We think we can hit $4 million in a couple of years from now," Forbis says. Source: Michael Forbis, CEO of Arborlight Writer: Jon Zemke
Arborlight is looking to increase the firepower of its business this year, and the Ann Arbor-based startup has a lot of dry powder to commit to that effort. The LED light company just raised $1.7 million seed round led by the Michigan Angel Fund. That cash will go toward commercializing its LightWell and further its sales reach across the U.S.
“We have a lot of market pull right now,” says Michael Forbis, CEO of Arborlight. “People are calling us from all over the country.”
The University of Michigan spinout is developing a sun-light-like LED light for both residential and commercial buildings. Its “daylight emulation system” utilized an energy-efficient LED light that can imitate sunlight down to the color, temperature, and other subtle details. It even has the ability to mimic the sunlight exposure outside by tapping into the local weather forecast. Check out a video on it here.
The 5-year-old company currently employs five people and the occasional intern. It has hired two people over the last year and it is looking to hire two more in production positions right now. Arborlight also plans to pass the $1 million revenue milestone this year, and go well beyond it in in the near future.
“We think we can hit $4 million in a couple of years from now,” Forbis says.
Source: Michael Forbis, CEO of Arborlight
Writer: Jon Zemke
Read more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.
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