Austin’s Mod Tech Labs won $1 million in the 43North pitch competition in Buffalo, New York last week.
It was one of five companies that won $1 million each. All the winners must move to Buffalo for a year to participate in the 43North Y8 accelerator program in exchange for a 5 percent stake in their companies.
Mod Tech Labs was one of eight finalists who flew to Buffalo to pitch on stage at Shea’s Performing Arts Center and answer questions from a panel of judges.
Alex Porter, CEO, and Co-founder delivered the pitch and Tim Porter, her Co-Founder, and husband, joined her on stage to answer questions. Mod Tech Labs has created an automated platform that uses artificial intelligence to transform photos and videos into 3D, helping scale content for film and transmedia production.
Founded in 2014, 43North is a nonprofit organization backed by New York State, Empire State Development, the Ralph C. Wilson, Jr. Foundation, and several other sponsors. Its focus is to attract and retain high-growth startups in Buffalo.
In addition to the $1 million, to date, Mod Tech Labs has received about $800,000 in funding.
In April, Mod Tech Labs received $68,474 from 63 investors in a WeFunder equity crowdfunding campaign.
In 2021, Mod Tech Labs participated in the Mass Challenge Accelerator in Austin and was a finalist.
In 2020, Mod Tech Labs participated in the Austin-based Sputnik Accelerator and received $100,000 in funding.
In 2019, Silicon Hills News named Underminer Studios, the former name of Mod Tech Labs, as one of its top 25 Austin-based startups to watch.
In addition to Mod Tech Labs, M Aerospace, an advanced additive manufacturing technology company specializing in 3D metal printing, based in Austin, was a semi-finalist.
