Israeli geolocation startup hoopo has raised $1.5 million in a financing round from investors including Zohar Gilon and AirMap CEO Ben Marcus. In efforts to improve precision for low-power Internet of Things (IoT) tracking, hoopo today has launched its innovative, accurate geolocation solution for low-power wide area (LPWA) networks.
“hoopo is addressing a real business need of companies around the world: cost-effective, yet precise, tracking of their valuable assets with longevity of battery life up to 10 years in the field,” said Ittay Hayut, CEO of hoopo. “LPWA checks off all of the boxes companies need in terms of cost and coverage, and hoopo’s solutions work alongside these LPWA networks to help businesses keep their assets safe, anytime and anywhere.”
The Ra'anana-based company's solutions are based on a patent-pending, triangulation method that uses LPWA data transmissions to generate a precise location. The solutions suite includes low-cost LPWA gateways and devices, as well as a platform for management and real-time notifications. Companies can receive on-demand geolocation, establish geofences, receive movement alerts, and more, ensuring the protection of their valuable assets.
“Early applications, such as asset tracking, are just the beginning of what advances in geolocation will enable,” said Dr. Eli Fogel, former CTO at Intel and an investor at hoopo. “Just as the advent of GPS launched a wealth of applications that no one ever thought of before, such as location-based advertising, there are future applications that this next generation of geolocation technology will enable. We’re excited to see what new applications emerge as customers embrace these new precision location capabilities.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 30, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018