Former GetTaxi Ltd. VP global marketing Nimrod May has been appointed CEO of RDseed Ltd. (formerly Navitrio), and investment company of Elron Electronic Industries Ltd. (TASE: ELRN) and Rafael Advanced Defense Systems Ltd.'s joint venture Rafael Development Corporation (RDC).
"We plan to invest in 6-8 companies a year. We can invest $150,000-200,000 as a partner in a financing round, or invest up to $1 million as the lead investor," said May.
As Navitrio, RDSeed was managed by founder and CEO Dror Liwer, who now serves as CEO of portfolio company Pose Ltd., which was founded in 2010 and raised $1.2 million from Navitrio in 2012.
Another RDseed portfolio company is Cloudyn Ltd., founded in 2011, which has raised $3 million, and provides cloud optimization services for NASA and The Boeing Company (NYSE: BA). It also invested $600,000 in Numbeez and $1 million in Cemmerce, which has gone out of business. RDseed plans to shortly close three more IT and social network portfolio companies.
"I simply did all I could do. It simply began to repeat itself," said May, explaining his decision to leave GetTaxi. "I like challenges and I now know a lot about the business world and consumers, and I have a passion for a new adventure."
Published by Globes [online], Israel business news - www.globes-online.com - on April 23, 2014
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