Geolocation Startup Hoopo Announces $1.5 Million Seed Investment
Hoopo developed a geolocation estimation algorithm as an alternative to GPS, locating assets in high-density areas such as vehicles in a parking lot, ships in a port, or free-range cattle
For daily updates, subscribe to our newsletter by clicking here.
Founded in 2016 Hoopo develops a geolocation estimation algorithm that uses low-power wide-area (LPWA) network data transmissions to generate a precise location, as an alternative to GPS.
Hoopo’s geolocation technology enables companies to locate assets such as vehicles in a parking lot, ships in a port, or free-range cattle, without the increased battery consumption associated with GPS technology.
“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,” Ittay Hayut, CEO of Hoopo, said in a statement.