Local data company sees six-figure investment

  • 2014-08-29
Investors have awarded Maryland Heights-based data storage business Evtron a sum of $800,000.

The startup company will use this money for the development of Micro-Shelves, its new product in storing data. Micro-Shelves are set to offset the cost of cooling and be denser than traditional data storage units.

According to Dave Sellers, Chief Strategy Officer at Evtron, some of the funds are needed for intellectual property patent applications and money to use as development progresses. He adds that the firm will still attempt to obtain more funds as the project evolves.

Evtron, a company with five employee at present, was able to receive $850,000 from private investors in the past. The project that orders for the Micro-Shelves will start in November, creating $3.5m to $4m in revenue.

The market for data storage is an industry that brings in $25bn each year, and that number is rising. Sellers points out that Evtron's Micro-Shelves are a start to the company evolving data storage to a more efficient and less costly process.

Companies like Evtron may want to use digital Business Cards that they can trade at technological expos to spread the word about their new product. Businesses looking for a better way to store data, or any other services that will make them more efficient, are more likely to get in touch with a company if they have its information to hand.
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