Milwaukee smart packaging startup PAXAFE Inc. is working to raise $400,000 from investors, according to a new SEC filing.

Ilya Preston of PAXAFE announces the Minnesota company has moved to Milwaukee.

The equity and debt round has not yet launched, according to the filing. PAXAFE estimates about $60,000 of the proceeds will be used to pay the company’s named executive officers, Ilya Preston and Ashok Seetharam.

PAXAFE graduated from the gener8tor startup accelerator’s fall 2018 Milwaukee cohort. It moved its headquarters from Minnesota to Milwaukee in November, upon completion of the accelerator, partly due to local investor interest.

gener8tor generally invests $100,000 in each of the startups that participate in its accelerator program. Read the full story here.