The pre-seed round was backed by Geocartography Knowledge Group to support technological development and product expansion.
"We are happy with the continued expansion of Geocartography Knowledge Group, also beyond the borders of Israel, and the deepening of our influence on the industry of market research and public opinion surveys. Our investment is both in the future of Geocartography Knowledge Group and in the future of the industry."
Redrice Ventures and Active Partners led the seed round alongside backing from London Marathon Events and other prominent sports investors.
"We can’t wait to show the 500m existing global runners, and the thousands of people that start running every day, the power of Coopah. Securing these funds and bringing this group of high quality investors on board is giving us the opportunity to invest in new growth channels which will put Coopah in front of the global running world. Bringing Gareth on board to spearhead this growth effort is an incredibly exciting moment for the business. His passion for our mission and his wealth of knowledge on how to scale a consumer sports app make him a fantastic addition to Coopah’s leadership."
The funding will support the company in growing its circular hardware offering across the United Kingdom and preparing for international expansion.
"The business model in the IT hardware industry has had little-to-no significant innovation in the last 20 years, other than the growth of eCommerce. The segment is stuck on a buy-sell model, while customer demand is moving to a subscription business model. This is where Ooodles comes in, offering a flexible rental platform that allows SMEs and professionals to regularly upgrade to the latest devices, saving time and money."