Indianapolis-based MITO Material Solutions will Wednesday cut the ribbon on its new headquarters on the city’s northwest side. The startup, which manufactures hybrid polymer additives for a variety of industries, says the expansion is the result of a $4.6 million seed round of funding earlier this year.
The facility, located at 8902 Vincennes Circle near the intersection of West 86th Street and Michigan Road, is designed to allow MITO to service more industries by developing new additives.
“Indianapolis has welcomed and supported MITO since we moved our headquarters here in 2019,” CEO Haley Marie Keith said in an email to Inside INdiana Business. “We made the decision to consolidate our offices and lab in 2021 in order to expand our capabilities to serve the composite manufacturing industry better. Our team is thrilled to formally showcase our new facility and we are even more excited for what lies ahead.”
The company has hired three full-time employees and four contractors since closing on its seed round and currently has six open positions. Keith says there will likely be additional jobs made available in the next year as the company increases production.
MITO’s leadership decided to move the company from Oklahoma to Indianapolis after participating in the inaugural class of The Heritage Group Accelerator Powered by Techstars in 2019.
The ribbon cutting is scheduled for 3 p.m. Wednesday with an open house continuing until 5 p.m.