Mito Material Solutions, an Indianapolis based developer of additives that enable polymer manufacturers to enhance product performance, raised $1M in seed funding.
The round was led by Dipalo Ventures and Clean Energy Trust. Additional seed investors included CavAngels; HG Ventures, Elevate Ventures, VisionTech Angels and Cortado Ventures.
The round followed Mito Materials receipt of more than $1.1m in R&D grants from the National Science Foundation and participation in the Heritage Group Hardtech Accelerator powered by Techstars in late 2019.
The company will use funding to enter the market with new innovations.
Led by married founders Haley Marie and Kevin Keith, Mito Materials is a specialty chemical company producing graphene based hybrid polymer modifiers that enhance material performance at a 0.1% concentration. All of MITO’s products are easily dispersible, safe to handle, scalable solutions designed to empower manufacturers to adopt new materials without changing their current manufacturing processes.
FinSMEs
31/08/2020