San Antonio-based Grain4Grain and its grain drying technology have won the 2020 Tech Fuel pitch competition. The food technology company won $50,000 out of the $100,000 total prizes awarded at the startup pitch competition hosted by tech industry Tech Bloc and Bexar County for early-stage ventures across Texas. This year's competition was streamed on Facebook Live on Wednesday evening.
The prize money won by the Grain4Grain will specifically go toward its plans to build a facility in Southtown and add to the company's current seed round to scale up its process to meet its growing customer base. "We are also hoping that this will help kickstart the fundraising process amid the pandemic. We have been able to pivot this summer successfully, and hopefully, investors jump on board," Yoni Medhin, co-founder of the company, stated.
The new facility will allow the company to source and store spent grain around the city to Austin. Grain4Grain targets the wholesale market and expands the usage of the flour byproduct into areas such as crackers and dog treats. It will soon launch a partnership with the bakery department in the same number of stores to deliver breaded additive for fish and poultry.