Connect With Us

Inside INdiana Business
Subscribe Now Log In
  • Home
  • News
    • Education
    • Health
    • Tech
    • STEM
    • Advanced Manufacturing & Logistics
    • Life Sciences
    • Ag INnovation
    • INPower
  • Videos
  • Big Wigs
    • Submit Big Wigs
  • Events
    • Engage Southwest Indiana – Evansville
    • Engage Northwest Indiana – Valparaiso
    • Engage Greater Lafayette – West Lafayette
    • Engage West Central Indiana – Terre Haute
    • Engage South Bend – Elkhart
    • Engage Northeast Indiana – Fort Wayne
    • Engage Central Indiana – Indianapolis
  • Newsletters
  • Podcasts
  • On-Air
    • TV & Radio Listings
  • Contact
    • About IIB
    • Meet the Team
    • Contact Us
    • Advertise
    • Gift Cards
    • Flagship Stations
    • Gerry’s Message
    • Speaking Engagement Request

Connect With Us

Tech Startup to Establish HQ in Indianapolis

Thursday, September 2, 2021 10:32 AM EDT Updated: Thursday, September 2, 2021 12:57 PM EDT
By Wes Mills
Tech Startup to Establish HQ in Indianapolis (photo courtesy: The U.S. Great Lakes St. Lawrence Seaway Development Corp)

Venture-backed startup PAXAFE Inc. has announced plans to relocate its headquarters to Indianapolis from Milwaukee, investing more than $6 million and creating 68 new jobs by the end of 2024. The Indiana Economic Development Corp. says the company develops machine learning models to manage supply chain risk.

The tech company developed a Software-as-a-Service platform to predict adverse events for commercial shippers of perishable and valuable items. PAXAFE says its move is due to the growing tech sector in central Indiana.

“Indiana has emerged at the forefront of startup ecosystems in the Midwest,” said Ilya Preston, PAXAFE chief executive officer. “The startup activity, access to resources and business climate creates an ideal atmosphere to attract and retain talent. Our team looks to contribute towards the continued development efforts of elevating Indy into a nationally-recognized startup hub.”

The IEDC says PAXAFE recently moved into its 700-square-foot office space at 55 Monument Circle, which will house members of its data, product and customer operations teams. The company says it will be hiring additional staff this year, including data scientists, machine learning and software engineers, product managers, and customer operations roles.

“PAXAFE could have scaled anywhere in the United States, but Ilya saw the opportunity in Indy and made an intentional decision to grow in one of the fastest growing tech hubs in the country,” said TechPoint CEO Mike Langellier. “We welcome them to the Indy tech community and are excited to see Ilya and his team thrive in Indy.”

The IEDC has committed $1.5 million in tax credits based on PAXAFE’s job creation plans.

Story Continues Below

Most Popular Stories

  • Jennings, Tippecanoe county sites selected for Duke grant

  • Carmel teen support foundation adds small group programs

  • Madison hotel wins state restoration prize

  • An Angola company is making tech last longer. Its mission has led to big growth.

  • On My Way Pre-K reaches record enrollment following expanded eligibility

  • North Manchester restaurant has new ownership, expansion plans

Perspectives

Biodefense Commission heads to IMS for a public meeting on the perpetual race against biological threats

Biodefense Commission heads to IMS for a public meeting on the perpetual race against biological threats

The Indianapolis Motor Speedway has hosted countless legendary events for well over 100 years. Along with Lucas Oil Stadium, Gainbridge Fieldhouse and the Indiana Convention Center, Indianapolis hosts countless large scale, mass-gathering events. It is part of what makes this city so dynamic and special. ...

Inside INdiana Business

Inside INdiana Business
A division of IBJ Media

1 Monument Circle, Suite 300
Indianapolis, IN 46204

PHONE: (317) 634-6200

FAX: (317) 263-5060

NEWSLETTER@IIBNEWS.COM

  • Home
  • News
  • Videos
  • Gerry Dick
  • Newsletters
  • On-Air
  • Contact

Copyright © 2023 All Rights Reserved Privacy Policy | Terms of Service