HueCore

HueCore was a technology firm established in 2016 with its headquarters in New York. The company, founded by Joel Reyes, focused on the automotive, hardware, and Internet of Things sectors. Prior to founding HueCore, Joel Reyes held executive positions at Bloomberg, AppCard, FXCM, and Stokke, bringing a background in sales and management to the venture.

The company's primary offering was VARU, a smart license plate frame designed to protect parked vehicles. This product aimed to alert other drivers to maintain a safe distance while parking. In the event of a collision, the integrated system was designed to record the GPS location, date, time, license plate, and VIN of the impacting vehicle, sending this data to the car owner's mobile application. This functionality was intended to help car owners minimize unreported damages. HueCore also positioned itself as an Insurance DaaS (Data as a Service) platform, leveraging its patented modular IoT telematic solution.

HueCore's operational history included several funding stages. It began with a product crowdfunding campaign in December 2016, which raised a small amount. This was followed by participation in an accelerator/incubator program in February 2017 and an early-stage VC round in October 2018. The company secured a total of $250K in funding, with the most recent round occurring on September 5, 2017. Despite these efforts and its patented technology for integrating vehicle alarms, cameras, and mobile devices, the company ceased operations in August 2020.

Keywords: automotive technology, vehicle protection, IoT device, smart license plate, collision detection, mobile application, Insurance DaaS, telematic solution, mobility tech, formerly VC-backed