# Sugi Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sugi-group

- Industry: Internet
- Headquarters: Stockholm, Sweden
- Website: www.getbower.com
- Total disclosed funding: $5.6M
- Latest round: Seed (Mar 23, 2022)
- Investors on record: 4

## About

Based in Stockholm, Sweden, and founded in 2015 by CEO Berfin Mert, and COO Suwar Mert, Sugi Group AB, d.b.a. Bower provides a mobile application that rewards individuals who recycle trash and consumer packaging. In March 2022, Sugi Group AB raised EUR 4.1 million in seed funding led by Blq invest, with participation from ALMI Invest, Orkla Ventures, and Verdane Capital Advisors.

Sugi Group provides a mobile application that allows users to scan the barcode on the packaging and receive the deposit value either in the form of points or money on the user's mobile phone. The application also allows users to find the nearest recycling station to visit there to scan their packaging and get rewards or money in return.

The company plans to use its proceeds from March 2022 funding to further expand its business reach as well as operations worldwide, initiating from the UK.

## Funding rounds

- Seed, Mar 23, 2022, $4.5M — Verdane, ALMI Invest, Orkla, Blq invest
- Seed, Jun 8, 2020, $1.1M — Verdane, ALMI Invest, Orkla

## Investors

- Verdane (https://capitalatlas.ai/funds/verdane) — Seed
- ALMI Invest — Seed
- Orkla — Seed
- Blq invest (https://capitalatlas.ai/funds/blq-invest) — Seed