Deutsche Telekom Backs Enhanced Reality Broadcasting Startup Texel

Telecommunications provider Deutsche Telekom AG has led a Seed round for Israel-based enhanced reality startup Texel, the companies announced Monday. The total investment sum was around $3 million, Texel co-founder and CEO Amir Segev, said in a phone interview with Calcalist Wednesday. The investment was made through Deutsche Telekom’s tech incubator with participation from early-stage venture capital firms Cornerstone Venture Partners and 500 Startups.

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Founded in 2016 and based in Herzliya, a town in the Tel Aviv area, Texel, incorporated as Strigy Media Ltd., develops software for immersive virtual and augmented reality broadcasting of concerts and sporting events. Using wearable headsets and Texel’s technology, viewers can share their experience in real-time with other viewers, change their viewing position, and replay certain moments, Segev said.

With several pilot programs running in the U.S. and Europe, Texel currently has 10 employees and intends to double in size in the upcoming year, according to Segev.

Deutsche Telekom previously invested in Israeli virtual reality startup Replay Technologies Inc., which was bought by Intel Corp in 2016.