ECD Auto Design announced that it has secured $2 million in funding from existing stakeholders to accelerate growth initiatives in its recently acquired Ford Mustang and Toyota FJ product lines, as well as secure high-value-added licenses.
The specific details of the $2 million of funding will be disclosed by ECD in a current report on Form 8-K, according to officials.
Additionally, the company intends to launch its “Build-To-Sell” model for clients that desire immediate purchase and plans on showcasing those products in ECD’s first retail location to be opened in 2025.
“We are excited to secure this funding with supportive investors, as we collectively see the untapped potential of the classic, luxury restomod industry,” said Scott Wallace, founder and CEO of ECD. “With a disciplined capital allocation strategy, we believe we can continue to add new revenue channels and increase the overall capacity utilization within our 100,000-square-foot manufacturing facility.”
