ZIM Announces Participation in a Series A Financing Round in Hoopo, a Provider of Cutting-Edge Tracking Solutions for Unpowered Assets
ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) has invested $5.5 million in Hoopo Systems Ltd., a leader in tracking solutions for unpowered assets, through a Series A financing round. This investment aims to enhance Hoopo's tech for tracking dry containers, potentially revolutionizing supply chain efficiency with its unique, power-efficient tracking solution. CEO Eli Glickman emphasized the critical need for improved supply chains and the vast opportunity with approximately 26 million dry containers worldwide.
- ZIM's investment of $5.5 million in Hoopo Systems aims to enhance tracking technology for dry containers.
- Hoopo's solutions improve asset utilization and operational efficiency, benefiting ZIM's logistics.
- Approximately 26 million dry containers globally present a substantial market opportunity.
- None.
Hoopo Systems' Solution is Designed to Improve Supply Chain Management of Unpowered Assets with a Unique, Highly Durable and Power-Efficient, Tracking Solution
Investment Intended to Enable Hoopo to Develop a First-of-its-Kind Tracking Solution for Dry Containers
HAIFA, Israel, Aug. 11, 2022 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced today the completion of a Series A financing round in Hoopo Systems Ltd., a provider of cutting-edge tracking solutions for unpowered assets, in which ZIM participated. ZIM invested
Hoopo is a leading provider of asset and fleet visibility solutions, working on transforming unpowered assets into connected fleets, thereby helping businesses to easily track and manage their operations, inventory, and equipment more efficiently by providing real-time data and analytics. Hoopo's solution is designed specifically for tracking and monitoring of unpowered assets by leveraging a unique, power-efficient tracking technology that creates long-lasting, highly durable and affordable tracking units that are suitable for any fleet size. Hoopo's Location Intelligence technology can be used across complex logistic operations such as transportation, aviation, waste management, and maritime. Customers using Hoopo's solutions gain improvement in asset utilization and cycle times, identify bottlenecks, optimize operations for higher efficiency, and offer elevated customer experience.
Proceeds of this investment are intended to, among others, further develop Hoopo's technology for the maritime industry, specifically dry containers, including the use of solar energy to power the tracking devices.
Eli Glickman, President and CEO of ZIM, remarked: "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 revolutionize 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."
About ZIM
Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with established operations in 100+ countries serving more than 25,000 customers in over 300 global ports. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at www.ZIM.com.
About Hoopo Systems
Hoopo was founded in 2017 by a team of experts in RF communications and geolocation technologies. It offers a unique power-efficient tracking solution that enables real-time Location Intelligence including both tracking and status monitoring for unpowered assets. By integrating a suite of innovative technologies, Hoopo's system ensures accurate asset positioning while maximizing power efficiency and cost. Hoopo is working on supply-chain innovation with leading companies in transportation, aviation, waste management, and maritime logistics.
To learn more about Hoopo, visit https://www.hoopo.tech or contact sales@hoopo.tech.
ZIM Forward-Looking Statements
This press release contains or may be deemed to contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about ZIM ("ZIM", or the "Company") may include projections of the Company's new service capabilities and advantages, future financial results thereof, as well as its anticipated growth strategies and anticipated trends in its business. These statements are only predictions based on the Company's current expectations and projections about future events or results. There are important factors that could cause the Company's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause such differences include, but are not limited to: market changes in freight, bunker, charter and other rates or prices, new legislation or regulation affecting the Company's operations, new competition and changes in the competitive environment, the outcome of legal proceedings to which the Company is a party, and other risks and uncertainties detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission, including under the caption "Risk Factors" in its 2021 Annual Report.
Although the Company believes that the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company assumes no duty to update any of these forward-looking statements after the date hereof to conform its prior statements to actual results or revised expectations, except as otherwise required by law.
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ZIM contacts:
Media:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
shats.avner@zim.com
Investor Relations:
Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana@zim.com
Leon Berman
The IGB Group
+1-212-477-8438
lberman@igbir.com
Hoopo contact:
Tal Leemor
VP of Marketing & Partnerships
Hoopo Systems
+1-424-214-1561
+972-54-584-1396
tal@hoopo.tech
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SOURCE ZIM Integrated Shipping Services Ltd.
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