Glil Yam, Israel-based asset and fleet visibility solutions for connected fleets provider Hoopo, raised USD 10 million. The Series A round took place on August 11, 2022. ZIM and theDOCK led the financing for the company. Meanwhile, new and existing investors – TAU Ventures, HICO and others joined in the investment. ZIM invested USD 5.5 million in Hoopo. So far, the total funds raised by the platform amounts to USD 17 million. This also includes the previous fundraising from Chartered Group, GiTV, and private investors such as Ben Marcus, Zohar Gilon, and Ido Greenberg.
Purpose of funding for Hoopo
With the latest capital infusion, Hoopo seeks to accelerate its growth in dimensions such as the transportation, aviation, and waste management space.
The investment will further aid the company to develop a tracking solution for the maritime industry. Besides, it seeks to transform dry containers into innovative, manageable fleets. The shelf life of each tracking unit is expected to be the same as the asset’s entire lifetime while ensuring item-level visibility.
What the CEO has to say
Hoopo CEO Ittay Hayut said, “We are excited about this vote of confidence from our new and existing investors. 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. 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.”
What the investors have to say
ZIM CEO and President Eli Glickman commented, “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 revolutionise the way industry players track their movement, enabling further optimisation of container fleets. We look forward to working with the team at Hoopo on the implementation of this first-of-its-kind solution in our dry container fleet, as well as promoting its adoption across the industry.”
In addition, Nimrod Cohen, Managing Partner of TAU, said, “We have accompanied Hopo from the very beginning and are proud of the team and the company for the consistent and significant development and for turning their vision into a reality that helps the most significant entities in the industries in which the company operates.”
About the company
Hoopo was co-founded by Ittay Hayut, Ilan Lozovsky, Daniel Avitzour, Erez Aviv, and Menachem Tipris in 2016. It aims to make logistics tracking seamless, cost-effective, and power-efficient. The company helps businesses with real-time data and analytics, easily monitor assets, gain actionable insights, and make proactive, data-driven decisions. This, in turn, helps the respective businesses to prevent bottlenecks, optimise utilisation, and perform timely maintenance actions.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
