ZIM Integrated Shipping Services Ltd. (ZIM) has announced the completion of a Series A financing round in Hoopo Systems Ltd., a provider of tracking solutions for unpowered assets.
ZIM invested $5.5 million in Hoopo, alongside both existing and new financial investors.
Hoopo is a provider of asset and fleet visibility solutions, working on transforming unpowered assets into connected fleets, aiming to support businesses to easily track and manage their operations, inventory, and equipment more by providing real-time data and analytics.
Hoopo’s solution is designed specifically for tracking and monitoring of unpowered assets by leveraging a tracking technology that creates tracking units suitable for any fleet size.
Hoopo’s Location Intelligence technology can be used across operations such as transportation, aviation, waste management, and maritime.
The investments intends to further develop Hoopo’s technology for the maritime industry, specifically dry containers, including the use of solar energy to power the tracking devices.
READ: Hapag-Lloyd to roll out real-time container tracking
Eli Glickman, President and CEO of ZIM, 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 approximately 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 optimization of container fleets.
“We look forward to working with the team at Hoopo on the implantation of this first-of-its-kind solution in our dry container fleet as well as promoting its adoption across the industry.”
Ittay Hayut, CEO of Hoopo, noted: “We are excited to form this partnership with one of the leading, and most innovative companies in the maritime industry.
“This huge vote of confidence from new and existing investors, together with Hoopo’s technology, and ZIM’s experience and knowledge, will allow us to transform dry containers into smart and digital fleets.”
Earlier this week ZIM closed a near $5 million Series B financing round in Sodyo Ltd. (Sodyo).
