Hoopo raises $10 million Series A to digitize fleets
Hoopo raises $10 million Series A to digitize fleets
The Israeli startup's solution transforms unpowered assets into connected fleets using highly durable and power-efficient tracking technologies
Israeli startup Hoopo announced on Friday a $10 million Series A funding round led by ZIM and theDOCK, and joined by new and existing investors TAU Ventures, HICO, and others. The funding brings Hoopo’s total amount raised to date to $17 million, including previous rounds from Chartered Group, GiTV, and private investors such as Ben Marcus, Zohar Gilon, and Ido Greenberg.
Hoopo is a provider of asset and fleet visibility solutions that helps businesses to easily and efficiently track and manage their operations, inventory, and equipment by providing real-time data and analytics. Hoopo’s solution tracks and monitors unpowered assets by leveraging power-efficient tracking technology, creating long-lasting, highly durable, and affordable tracking units suitable for any fleet size. Hoopo’s intelligent location technology can be used across complex logistic operations, including transportation, aviation, waste management, and maritime.
Proceeds from this latest investment round will further Hoopo’s growth in the transportation, aviation, and waste management space. The funding will also support Hoopo in developing a tracking solution for the maritime industry, transforming dry containers into smart, manageable fleets. Each tracking unit will be designed to last for the asset’s entire lifetime, while ensuring item-level visibility.
“This round of funding will enable us to turn millions of unpowered assets into connected fleets in the transportation, aviation, and waste management industries, among others,” said Hoopo CEO Ittay Hayut. “We are also eager to partner with one of the leading innovators in the maritime industry. The combination of Hoopo’s technology and ZIM’s experience and knowledge will allow us to transform dry containers into smart and digital fleets.”
ZIM CEO and President Eli Glickman noted: “In a time when the ability to improve supply chains has proven to be a critical competency, we are pleased to embark on this new digital initiative. There are more than 26 million dry containers worldwide, and Hoopo’s cutting-edge tracking technology has the potential to revolutionize the way industry players track their movement, enabling further optimization of container fleets.”
