Co-founder and CEO Fiona Kelleher. Image: Nick Bradshaw
Based in West Cork, the start-up co-founded by Fiona Kelleher bagged its latest investment from BVP and Enterprise Ireland.
MyGug, a food waste management start-up based in West Cork, has raised more than €900,000 in a seed funding round that will help expand its market reach in Ireland and beyond.
A former SiliconRepublic.com Start-up of the Week, MyGug focuses on small food businesses that grow their own food, providing them with a food waste disposal system that turns waste into biogas energy for cooking that can be used in kitchens and gardens.
With customers in the food and education industries across Ireland, the UK and Europe, the start-up co-founded by Fiona Kelleher has come a long way since it was established in 2022.
The latest seed funding round was led BVP and saw participation from Enterprise Ireland.
“This investment will greatly support our efforts to deliver this innovative food waste solution to customers and create greater positive impact in the fight against climate change,” said Kelleher, who is CEO of the company.
The egg-shaped MyGug units harness the power of a natural process called anaerobic digestion in which food waste is broken down to produce a natural gas suitable for cooking and liquid fertiliser for growing.
Speaking to SiliconRepublic.com last year, Kelleher described the product as “hardworking”, “efficient” and “aesthetically pleasing” at the same time. The system is automated, allows for remote monitoring and can produce data valuable to users for “supporting and learning about the efficacy of sustainability practices”.
“The ultimate goal is to enable users to see food as an energy resource, to enable sustainable practices and improve climate health by providing a solution that lessens dependence on traditional fossil fuel-based solutions that threaten the environment,” she said.
Now, the investment from BVP and Enterprise Ireland will help MyGug – a previous winner of the second AgTechUCD accelerator based in University College Dublin – embark on its “next chapter” of growth.
“Moving forward with this support is vital for the company,” Kelleher said today (25 March).
“We are fortunate to have an experienced investor base of BVP and Enterprise Ireland which brings expertise to widen 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.”
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