hoopo Launches to Provide Low-Power Geolocation Solutions for IoT
Company announces funding, accurate, low-power solutions
suite for asset tracking
In an effort to radically improve precision for low-power Internet of Things (IoT) tracking,
hoopo
announced the launch of the company and its innovative, accurate
geolocation solution for low-power wide area (LPWA) networks. The
company also announced it has received $1.5
million in funding to further grow its business from a group of
investors, including the initial investors in Mobileye; noted Israeli
investor Zohar Gilon; and Ben Marcus, CEO of AirMap.
The
need to understand and quantify asset location is quickly becoming a
requirement for the enterprise and industrial IoT. However, the accuracy
of today’s low-power geolocation isn’t precise
enough to deliver on the full promise of the IoT. hoopo’s geolocation
solution enables companies to locate their valuable assets, without the
significant cost or battery consumption that can be associated with GPS.
hoopo’s IoT solutions help companies precisely
track specific assets in areas such as ports, vehicle dealer yards,
parking lots, cattle ranches and other asset-dense areas.
LPWA
networks are becoming the driving force behind Smart City and other IoT
applications because of their low-cost, low-power consumption, and
high-coverage capabilities in rural and urban
environments. The long battery life of LPWA devices allows businesses
to deploy a maintenance-free device in the field for several years.
“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.”
hoopo’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.
“hoopo's
geolocation technology reveals new business verticals that were limited
or impossible when using existing technologies because of their
high-cost and significant power consumption,”
said Menashe Terem, CEO at Tri-logical, a leading provider of tracking and management solutions.
“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.”
Source: Hoopo media announcement