Hoopo, an Israeli startup that offers a solution to transform unpowered assets into connected fleets, raised $10 million in a Series A round of investment led by ZIM and theDOCK. Hoopo has now raised a total of $17 million to date.
Fleet asset management has to do with everything dealing with the administration and efficient management of all of the assets associated with an enterprise’s fleet operations. It simplifies a firm’s procedures and provides a complete view of assets’ lifecycles from acquisition to usage and resale.
This is something that any business with its own fleet of vehicles needs to be expert in performing. Many manufacturers have their own fleets of trucks to deliver their goods. Or think of businesses like FedEx and UPS that specialize in delivery services. These are the types of enterprises that require an efficient system of fleet asset managemt.
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Hoopo said of the raise, “This is a great vote of confidence from both existing and new shareholders, and we look forward to continuing our journey in transforming millions of unpowered assets into smart connected fleets across the globe.”
Founded in 2016, Hoopo is a global provider of cutting-edge, low-cost, power-efficient tracking solutions. The company boasts that its HoopoLogic end-to-end solutions combine sophisticated low-power interoperable hardware, cloud software, and live dashboards to provide complete visibility and an intuitive user experience.
“We serve a diverse range of clients across various business sectors from airport handling to fleet operations, waste management, and supply-chain logistics.”
“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.”