Shared Music Startup Mugo Wants to Become the ‘Instagram of Music’

Israeli-based startup Mugo Inc., developer of social music player Mugo, has won Calcalist’s promising startup award, announced Monday at the Calcalist seventh digital and mobile conference in Tel Aviv.

Eleven Israel-based startups in the fields of cybersecurity, cloud computing, big data and IoT made the final round of the competition. Tailor Brands Ltd., an automated logo and brand design service with more than 2 million users, came in second place.

“Our goal is to become the Instagram of music,” said Mugo CEO Ori Segal, adding that the company is on the verge of breaking into the U.S. and Europe.

Founded in 2016, the Mugo has so far raised over $1.5 million to date and is currently in the midst of a funding round. The Mugo app launched in August and is available on both iOS and Android app stores.