Shoof Technologies Announces Funding From NTT DoCoMo
Shoof announces more funding and sees better-than-expected results from customer trials
SUNNYVALE, Calif., February 19, 2019 (Newswire.com) - Shoof Technologies Incorporated, pioneer of an advanced wireless technology designed for the Industrial IoT, announced that it has received an undisclosed amount of funding from NTT DoCoMo Ventures (NTD), the venture capital arm of NTT Group.
Since successfully raising seed-round funding from Kleiner Perkins, Abies Ventures of Japan and Tyche Partners about a year ago, Shoof has been focusing on product development and product trials with several high-profile customers in the businesses of manufacturing of automotive and industrial products, airports and freight carriers. “We are very pleased with the results of the product trials so far,” said Ra’ed Elmurib, CEO, Shoof Technologies. “Many of the trials are nearing completion and we are seeing results that are much better than anticipated. Particularly, we have been able to achieve long-range GPS-free tracking that is measured in kilometers, not just meters. Indoor-outdoor location detection accuracy has also been better than expected.”
NTD focuses on investing in technologies for next-generation devices, services and networks. It believes that Shoof technology has the potential to revolutionize asset tracking in the supply chain and logistics industries and Shoof’s ability for accurate indoor and outdoor tracking and GPS-free long-range communication are just two of its many key advantages.
Shoof is a pioneer of an advanced wireless technology designed specifically for the Industrial IoT and the Logistics market. Shoof connects and transports data from assets to the cloud in a reliable, secure, scalable and low-cost manner. Building upon advanced wireless technology with edge intelligence, the Shoof solution combines this low-cost infrastructure with flexible cloud data access and a simple subscription business model. Join Shoof on Twitter and LinkedIn or visit www.shooftech.com.
Shoof Technologies and the Shoof logo are trademarks of Shoof Technologies Incorporated.
For further information, please contact:
Shoof Media Relations - Info@shooftech.com