South Korean startup Grinda has closed a pre-A2 investment round, bringing its total funding to 7.2 billion won. The company collects used frying oil from restaurants and food factories, then processes it into feedstock for sustainable aviation fuel (SAF). Existing investors including GS Ventures and new backers like Lotte Ventures participated in the round. Grinda reported 8.9 billion won in revenue for the first half of 2026, roughly a tenfold increase year on year. It now serves about 2,500 clients across South Korea and holds ISCC EU and ISCC CORSIA certifications, which are required to sell into European and global SAF markets. The company plans to use the fresh capital to expand its collection network, upgrade production infrastructure, and hire more staff. The SAF market is growing fast as airlines look for ways to cut emissions. Grinda's model turns a waste stream into a certified fuel feedstock, which gives it a clear edge in both cost and carbon accounting. The key question is whether it can scale collection fast enough to meet demand.
