Mobility start-up from the EIT Urban Mobility SPECIAL COVID-19 Accelerator is raising capital to allow for scaling up and entry into the European market.
Garching near Munich, Germany, 2 December 2020 – Israeli mobility start-up Axilion Smart Mobility concluded a reverse Initial Public Offering (IPO) with APIO-Africa Ltd. on 30 November 2020 and is henceforth listed on the Tel Aviv Stock Exchange. By going public, the company was able to raise fresh capital for scaling and internationalisation. EIT Urban Mobility, and more specifically its SPECIAL COVID-19 Accelerator Programme, is supporting the company’s entry into the European market.
Axilion software can create a digital twin of urban traffic networks. This digital twin makes it possible to perform precise real-time analyses and predictions of traffic flows, the number of traffic participants and the use of various transportation means including cars, buses and trains. Based on field data combined with analytical and data-driven traffic models, Axilion can identify disruptive factors such as traffic jams and high traffic loads during rush hour and thus model alternative options. For mobility coordinators it opens up proactive and optimised traffic planning for the smooth flow of traffic in cities.
One of the reasons for Axilion’s success is that they use visual data. Mobile Edge cameras, such as those installed in busses and trains, as well as at traffic lights and crossroads, monitor traffic. Artificial Intelligence video technology analyses traffic conditions, such as traffic participants and people waiting at bus stops, and thus delivers precise data about current traffic volumes in the city.
The technology is already being used in major Israeli cities as well as in some cities in the US, including New York. Thanks to Axilion´s solutions, traffic-related emissions can be reduced, traffic jams at peak hours eliminated and travel times cut by up to 40%.
Optimizing technology for COVID-19-specific mobility
Fewer people are currently using public transport, choosing driving a car or ride a bike instead: The coronavirus pandemic has altered people’s travel behaviour according to a study by the DLR (German Aerospace Center). In order to understand the COVID-19-specific requirements of cities as well as the European market, and to develop their existing technology in response to those requirements, Axilion is participating in the EIT Urban Mobility SPECIAL COVID-19 Accelerator Programme. EIT (European Institute of Innovation and Technology) Urban Mobility has initiated the three-month programme together with accelerators Futurebox from Denmark, PoliHub from Italy, Technion DRIVE from Israel and the UnternehmerTUM incubator XPRENEURS from Germany.
Thanks to this Accelerator programme, the Axilion team is learning to optimise the effects of its solution for COVID-19-specific cases, and to plan the medium- and long-term objectives of its business development. Industry experts, such as the Digital Hub Mobility and experienced start-up entrepreneurs, have been providing support for this. The team has benefited particularly from the resulting insights gained into the European market and also from the solid information acquired, which, in addition, helps them to understand intercultural differences between Europe and Israel.
“We’re extremely pleased that the strong Axilion team has used our programme so successfully as a springboard into Europe and has become fully involved in the community”, says Martin Giese, Managing Director of the XPRENEUR incubator at UnternehmerTUM.
Business development in Europe
The international exchange with the global networks of EIT Urban Mobility, UnternehmerTUM and the partners is aimed at connecting Axilion with the controlling city authorities and decision-makers. The relationship building has proved successful with leading European cities showing interest in the Axilion solution.
“It’s an incredibly exciting time for Axilion, as we continue to evolve and begin our journey as a publicly-traded company while providing more cities the ability to reduce pollution, congestion and improve safety with our AI-based Digital Twin SaaS technology.”, says Oran Dror, CEO and co-founder of Axilion Smart Mobility. “We are delighted to be involved in the EIT Urban Mobility and hold an active role in the European mobility innovation community. The EU programme has contributed greatly to our engagements with cities and business partners in the European market, aligning with the Green Deal plan, especially as the European Commission is striving to be the first climate-neutral continent.”
“The EIT SPECIAL COVID-19 Urban Mobility Accelerator Programme is supporting 23 start-ups which are tackling COVID-19-associated challenges through innovative technologies in the area of urban mobility. We look forward to continue our cooperation with Axilion via our GoGlobal/Welcome2Europe programme”, explains Fredrik Hanell, Director Business Creation at EIT UM.
The programme is part of the EIT Crisis Response Initiative and is funded by the EU. For further information click here.
Axilion enables cities worldwide to reclaim their traffic-congested streets by harnessing advanced AI & deep learning that transforms traffic signals into a dynamic, car-connected and adaptive network. With Axilion, cities maximize their current infrastructure via a universal traffic language that bridges multiple hardware vendors for unified communication and smart optimization, while laying the foundation for monetizing congestion. For more information, visit www.axilion.com.
About EIT Urban Mobility
EIT Urban Mobility aims to accelerate solutions and the transition towards a user-centric, integrated and truly multimodal transport system. As the leading European innovation community for urban mobility, EIT Urban Mobility works to avoid fragmentation by facilitating collaboration between cities, industry, academia, research and innovation to solve the most pressing mobility challenges of cities. Using cities as living labs, its industry, research and university partners will demonstrate how new technologies can work to solve real problems in real cities by transporting people, goods and waste in smarter ways. For more information visit www.eiturbanmobility.eu.
About UnternehmerTUM GmbH
UnternehmerTUM, the biggest entrepreneurship center in Europe, offers founders and startups a complete service: from the development of an initial idea to IPO. A team of 240 experienced entrepreneurs, including scientists and investors, support startups with the development of their products, services and business models and a curated mentor network. The experts accompany the startup teams actively to help them build their companies, with market entry strategies and financing as well as with connections to business angels and venture capital.
More about UnternehmerTUM www.unternehmertum.de and its incubator program XPRENEURS xpreneurs.io/