Tau Ventures takes two

Tau Ventures, the university venture fund of Tel Aviv University (Tau), has participated in rounds worth a total of $2m for two Israel-based businesses, the Jerusalem Post has reported.
First, Tau Ventures has contributed to a $400,000 round for 3D printing technology developer Castor, in a deal also featuring industrial tools manufacturer Stanley Black & Decker, accelerator Techstars and angel investor Jeremy Coller.
Founded in 2017 by two Tau alumni, Castor is working on an artificial intelligence-powered 3D printing platform that enables manufacturers to evaluate the feasibility and cost-effectiveness of fabrication processes.
The company received $100,000 in prize funding for winning a Tau startup competition in June 2018. It will soon graduate from the Stanley+Techstars Additive Manufacturing Accelerator, run by Stanley Black & Decker and Techstars.
Tau Ventures has also joined a group of angel investors to back local geolocation technology developer Hoopo, which has now raised $1.5m in capital since its founding in 2016. The angels include Amit Gilon, Ben Marcus, Zvika Pritch and Ido Grinberg.
Hoopo’s technology provides accurate and cost-effective geolocation data for low-power internet-of-things devices in settings such as harbours, airports and car dealerships. Its system is marketed as having a battery life lasting several years.
The company previously received $20,000 in funding for taking part in Fusion LA, an accelerator that supports Israel-based businesses willing to consider relocation to the US.
Tau Ventures is a $20m vehicle formed in April 2018 with limited partners including Chartered HighTech and several US and Canada-based investors. The fund has already invested in livestreaming platform Loola TV, brand protection technology developer Cyabra and drone technology developer Xtend.
Nimrod Cohen, managing partner at Tau Ventures, said: “When we launched the fund, we wanted to build a new model integrating the identification of quality entrepreneurs on one hand and granting unrivaled value for those same entrepreneurs on the other.
“Today, we can say that our model produces deal-flow of a high standard. Within six months we have been introduced to hundreds of startups and invested in five.”