Tel Aviv-based Axilion Ltd. has raised a $6 million seed round, the company announced Monday. The round was participated by the controlling shareholder of the Shlomo Group, the Shmeltzer family, former Ford Group vice president for global strategy John Casesa, former U.S. Deputy Secretary of Transportation John Procari, former Psagot Investment House Ltd. chairman Arik Steinberg, founder of cryptocurrency company INX Ltd. Shy Datika, and Mark Joseph, the former CEO of Transdev North America.
Founded in 2009, Axilion develops smart traffic light timing software capable of distinguishing between different kinds of vehicles and prioritizing public transportation. Axilion's technology is currently being used in Jerusalem to prioritize the city's light rail. The company employs a team of 25 people in Israel and Bulgaria, Axilian CEO Oran Dor said in a Sunday interview with Calcalist.
