Climate Tech Platform Mugo Closes €300,000 Seed Round

Mugo, an Italian startup born in 2020 from the idea of Benedetto Ruggeri, has closed a €300,000 seed round led by Market3rs, a new Turin-based company active in the field of digital marketing. The deal is not limited to a capital increase but includes a co-development program that sees Market3rs provide its capabilities to expand Mugo’s target user base, thus accelerating the process of integrating the climate variable into consumers’ daily choices toward sustainable shopping paths.

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The sustainable shopping experience

The climate tech platform that guides consumers toward sustainable shopping paths by estimating and communicating the carbon footprint of the products they choose in real-time is called Mugo Retail. The goal, they let the startup know, is to zero in on the climate impact of the shopping cart at the end of shopping, in-store and online. Using Mugo Retail’s Applications Programming Interface (API), it is possible for the retailer to access the categorization and measurement algorithm, estimating the carbon footprint of any product on the shelf.

The sustainability of the products purchased is shown on the receipt and in the user area of the point-of-sale app, giving the consumer the opportunity to change their purchasing habits. Consumers can then decide to use their accumulated loyalty points to balance the climate impact of their shopping cart by funding independently certified initiatives to reduce and remove CO2 from the atmosphere. In addition, Mugo collaborates with several greenhouse gas offset projects around the world that promote the revival of forests and the optimization of energy resources. The platform is able to connect each company with dozens of MUGO partners working to remove and reduce greenhouse gases from the atmosphere, creating a true decarbonization marketplace.

“There are at least two elements that determined our investment decision. First, the excellent expertise that the Mugo team has demonstrated on the technical aspects and regulatory issues in the sustainability sector. Secondly, the seriousness and commitment with which the mission of reducing the impact on our planet is addressed, which is also a priority for us.” Said Davide Gasperini, co-founder of Market3rs. “It was crucial for us to find a partner who understood Mugo’s priorities and was interested in building a path of common growth with four hands. In Market3rs we found not only an investor, but above all entrepreneurs with whom we could share a vision for the business.” Commented Benedetto Ruggeri, ceo and founder of Mugo.

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First published in StartupItalia, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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