Hoopo raises US$3.5mn in seed funding from GiTV, Chartered Group and TAU Ventures to enable IoT asset-based tracking

Ben Marcus of AirMap

hoopo, a company that claims to be “redefining geolocation technology” with high-accuracy low-power capabilities via the Internet of Things (IoT), has secured a $3.5 million (€3.1 million) funding round from Chartered HighTech JIHTV1 fund, TAU Ventures, and Global IoT Technology Ventures (GiTV).

hoopo has now raised a total of $5 million (€4.4 million), including previous rounds from the initial investors in Mobileye; noted Israeli investor, Zohar Gilon; and Ben Marcus, co-founder and chairman of AirMap.

The company was founded in Israel by a team of experts with over 120 years of combined experience in RF communications and tracking systems. Its unique technology enables GPS-less geolocation by providing accurate positioning for low-power devices. With this latest round, hoopo will scale up the business operations on a national and international basis.

hoopo’s geolocation solution enables companies to locate their valuable assets utilising low-power wide area (LPWA) networks, without the significant cost or battery consumption that can be associated with GPS.

hoopo’s IoT solutions help companies precisely track specific assets and monitor their environments, including temperature, moisture levels and more, opening up the possibility of industries that can use geolocation technology that were previously unable to support the high costs and significant power consumption, such as airports,  the supply chain, wide-area campuses and more.

Hiro Mori

Using hoopo, customers can receive on-demand geolocation, establish geofences, receive movement alerts, and more, ensuring the protection of their valuable assets. These solutions help hoopo’s customers save on top-line expenses by optimising logistic efficiency through real-time data and analytics.

“We’re so pleased that Chartered HighTech JIHTV1 fund, TAU Ventures, and GiTV joined as investors to share our vision and see the potential in this market,” said Ittay Hayut, CEO & co-founder of hoopo. “Our solution helps companies across a range of vertical sectors to achieve significant savings in their asset tracking and this funding will help us accelerate our development and sales processes to meet their needs.”

“We’re incredibly excited to be partnering with hoopo,”  said Eyal Agmoni from JIHTV1, a fund by Chartered Group.  “As the anchor investor in TAU Ventures, we came to know hoop and through that, saw the value in this technology which led us to make our first direct investment decision.  We believe that the company has a world class team, industry-leading technology, and the ability to bring about a profound change in geolocation systems. hoopo’s momentum is a testament to the team’s hard work and the scale of the opportunity at hand.”

“hoopo’s innovative solutions are transforming the possibilities of asset tracking,” said Mr. Hiro Mori, general manager of Israel Development Office at Toshiba of Europe Limited.For a while now, we have been searching for an ultra-low-power tracking solution that is capable of providing high accuracy for our various use-cases and we are happy to have identified hoopo as an ideal solution for our clients.”

Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow


Nordic-powered smart utility access cover offers anti-theft protection and detects open/close events

Posted on: August 16, 2022

Oslo, Norway – China-based Jian-IOT has launched a smart utility access cover that can detect when the cover has been opened or closed, records water level and temperature data, identifies any damage, and includes an anti-theft system that tracks the current location of the device. The ‘Integrated Intelligent Manhole Cover’ employs Nordic’s nRF52832 SoC to both act

Read more

Helbiz to offer on-demand taxi services to widen international intermodal offering

Posted on: August 16, 2022

New York, United States – Helbiz, a global provider in micro-mobility, announced the beginning of a new chapter for its intermodal mobility offering, Helbiz Taxi. The micro-mobility company aims to integrate mobility services around the world in its app to widen the intra and extra urban mobility offerings to include vehicles from additional companies with

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more

What is IoT?

Posted on: July 7, 2019

What is IoT Data as a new oil IoT connectivity What is IoT video So what’s IoT? The phrase ‘Internet of Things’ (IoT) is officially everywhere. It constantly shows up in my Google news feed, the weekend tech supplements are waxing lyrical about it and the volume of marketing emails I receive advertising ‘smart, connected

Read more
IoT Newsletter

Join the IoT Now online community for FREE, to receive: Exclusive offers for entry to all the IoT events that matter, round the world

Free access to a huge selection of the latest IoT analyst reports and industry whitepapers

The latest IoT news, as it breaks, to your inbox