Sogur

Company Overview

Snapshot

Founded in January 2017 by Moshe Hogeg and Ido Sadeh Man, Sogur operated with 11–50 employees. The company raised $30 million across one funding round from 6 investors. In January 2021, Sogur ceased to operate.

Business overview

Sogur offered a reserve-backed global digital currency designed to complement existing national currencies. Its core technology involved an algorithmically governed backing reserve aimed at reducing volatility. The company's products, SagaCoin and SGA, targeted global markets within the Fintech & Insurtech sector, specifically focusing on trading and investing for consumers, financial institutions, and private investors.

Strategic signal

Sogur ceased operations in January 2021, indicating a significant strategic shift and the conclusion of its digital currency project. This event signals to investors and innovation teams the inherent risks and challenges associated with launching and sustaining new digital currencies, particularly those aiming to integrate with traditional financial systems.

Company Intelligence Q&A

What is Sogur's current operational status?

Sogur is currently non-active and ceased to operate in January 2021.

When was Sogur founded and by whom?

Sogur was founded in January 2017 by co-founders Moshe Hogeg and Ido Sadeh Man.

What was the primary focus of Sogur's digital currency?

Sogur focused on a non-anonymous, reserve-backed digital currency designed for reduced volatility, aiming to complement existing national currencies.

Which investors participated in Sogur's funding round?

In March 2018, Sogur received funding from investors including SPiCE VC.

What was a significant event for Sogur in December 2019?

In December 2019, Israeli crypto company Sogur launched its digital coin, SagaCoin, which was designed to be a reserve-backed global digital currency.