Israeli geolocation co hoopo raises $3.5m

hoopo team Photo: PR
hoopo team Photo: PR

hoopo is redefining geolocation technology with high-accuracy low-power capabilities via the Internet of Things (IoT).

Israeli geolocation startup hoopo today announced a $3.5 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, including previous rounds from investors in Mobileye, Israeli investor, Zohar Gilon, and AirMap chairman Ben Marcus.

hoopo is redefining geolocation technology with high-accuracy low-power capabilities via the Internet of Things (IoT). 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 utilizing 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. 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 optimizing logistic efficiency through real-time data and analytics.

hoopo cofounder and CEO Ittay Hayut said, “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." Eyal Agmoni from JIHTV1, a fund by Chartered Group said, “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 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.”

Published by Globes, Israel business news - en.globes.co.il - on June 3, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

hoopo team Photo: PR
hoopo team Photo: PR
Tel Aviv Stock Exchange credit: Shutterstock TASE tumbles in Wall Street's wake

Dual-listed stocks have again been hard hit, but the banks are also down sharply.

Donald Trump and Benjamin Netanyahu credit: Avi Ohayon Netanyahu due in Washington to discuss tariffs

According to news website Axios, Prime Minister Benjamin Netanyahu will be the first leader to meet President Trump after the latter's announcement of sweeping import tariffs.

Yoni Assia CEO eToro Credit: PR eToro defers IPO amid market turmoil

The online trading platform had planned to begin meetings with investors this week.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef Smotrich meets wrong man in Washington

Minister of Finance Bezalel Smotrich tried to persuade Secretary of the Treasury Scott Bessent to soften the tariff blow on Israel - only Bessent isn't responsible for the matter.

Unframe founders credit: Yossi Yarom Israeli AI enterprise platform co Unframe raises $50m

Unframe’s turnkey AI solutions enable companies to solve any enterprise AI use case at scale with fully functional, customized AI solutions for businesses in a matter of hours, rather than months.

Combatica credit: Combatica Combatica launches next-gen VR AI training platform

The Israeli company's virtual reality platform includes 50 AI generated scenarios, seven maps and even situations for operating night vision.

Shekel credit: Shutterstock Vladirina 32 Shekel volatility after US tariffs announcement

The shekel is weakening sharply against the euro, which is gaining following the unveiling of Donald Trump's tariffs plan.

Minister of Finance Bezalel Smotrich credit: Noam Moskovitz Knesset Spokesperson Treasury assesses potential damage to Israel's US exports

Israel will be charged a higher tariff on its exports to the US - its biggest export customer - than Turkey and the UAE.

Iranian flag credit: Shutterstock Why inflation haunts Iran

With a month-on-month increase of 3.3% and an annual rate of 37.1%, inflation reflects the struggles of millions of Iranians.

APM merges with lawyers from Doron, Tikotzky Kantor, Gutman credit: Eyal Merilos APM merges with 12 lawyers from Doron, Tikotzky Kantor, Gutman

With the addition of these 12 lawyers, Amit Pollak Matalon & Co. will now have 135 lawyers.

US President Donald Trump credit: Reuters Sipa USA Israel on list as Trump unveils tariffs

Relatively low reciprocal tariffs will be imposed on Israeli goods sold in the US.

Deflated unicorn credit: Shutterstock Big Tech 50 reports more huge falls in startup valuations

Israeli R&D partnership Big Tech 50 reports that an investment of $2 million in Orcam made in 2021, shrank to just $31,000 at the end of 2024.

NextFerm technologies based on yeast credit: NextFerm Food-tech co NextFerm suspends operations

The company, which produces food ingredients in yeast without genetic engineering, cannot pay its debts and is seeking a buyer.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef OECD sees recovery in growth but high inflation

The OECD Israel Economic Survey 2025 recommends that the Israeli government take several restraining measures, in order to exit the economic storm created by the war.

Dano Ben-Hur credit: Dror Sithakol Statisticians contradict BoI on impact of housing finance deals

The Central Bureau of Statistics insists the impact of 20/80 buy now pay later financing deals on the real estate market and housing prices is minimal.

Governor of the Bank of Israel Amir Yaron  credit: Government Press Office Debt fears top Bank of Israel's concerns

Most unusually, Governor of the Bank of Israel Amir Yaron's press conference last week did not focus on inflation and the impending interest rate decision.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018