The Irish cleantech startup has raised capital to scale its food waste conversion technology across domestic and international markets.
"We are delighted to have the support of BVP and Enterprise Ireland as we embark on this next chapter of growth for MyGug. Moving forward with this support is vital for the company. We are fortunate to have an experienced investor base of BVP and Enterprise Ireland which brings expertise to widen our network and relevant background which we see as a very valuable asset in our partnership, and we look forward to a positive and successful collaboration in bringing MyGug to a wider market. This investment will greatly support our efforts to deliver this innovative food waste solution to customers and create a greater positive impact in the fight against climate change,"
Forward Partners and Middlegame Ventures led the round to support infrastructure for alternative asset investing.
"A culture of exclusivity, overly restrictive entry requirements and archaic processes have meant access to investing in things like property and green energy and more have traditionally been dominated by the super-rich and institutional investors. A diversified portfolio should play a key role in any investment strategy and it’s not right that alternative assets, a typically robust form of investment, remain in the old world of money."
The seed round was led by Gallagher with participation from Enterprise Ireland, 519 Growth Fund, and Grand River Agricultural Society.
"We are delighted to secure this funding round with such a significant mix of globally recognised industry players and seasoned investors like Enterprise Ireland. Our latest innovation allows farmers to gain new insights into how their animals are actually progressing. StrongBó provides average daily gains so farmers can see how much the animals are growing, and how much weight they’re putting on. You can’t manage what you don’t measure."
The funding round was co-led by Sure Valley Ventures, Act Venture Capital, and Furthr VC.
"We’ve developed long-term partnerships with customers who trust our expertise to successfully address and solve even their most complex business problems. Having had a positive response from the market to date, particularly in the USA, we look forward to accelerating our sales, implementing our product roadmap and growing our team over the coming months."
The funding round was led by Furthr VC to support job creation and global growth.
"We are delighted to receive this funding from our investors, who share our excitement for the future of Ronspot. The team at Furthr VC have been working closely with us, offering valuable advice as we prepare for a period of rapid global growth."
