For many 17-18 year old Israeli geeks, their dream is to be recruited into a crack computing unit in the Israeli army. From there, you can hope and pray for and millions in exits after a decade or so

To reach that far-off star is not so easy in reality. Yet that is just what Daniel Ramot and Oren Shoval achieved last week. Their company, Via Transportation is barely three years old and has just raised US$27 million.

What is intriguing is that these two entrepreneurs have been bold enough to encroach on space that was assumed to be the sole property of Uber Taxis, Hitch and a few select others. What we are talking about is: –

…a ride-hailing app that groups up to five passengers who are heading in the same direction, and sends a professional driver in a sedan, SUV or van to pick them up within 10 minutes, and drop them off together. Rides cost $5 or $7.

And the attraction? No surge pricing! “Riders are assured of the flat fee they will pay for a ride within a given city zone, more like a bus ticket or subway fare.” In parallel, suppliers are paid by the hour and thus are happy to participate, as compared to the grumbles heard from Uber drivers.

So which investors have climbed on board? Chemi Peres, son of former Israeli President, has signed up through his successful investment house, Pitango. Another well-known name is Roman Abramovitch, owner of Chelsea Football Club.

This is a clever app. In effect, sophisticated algorithms are matching the needs of unknowns, who wish to journey around town, quickly and efficiently. It is open to users of both iOS and Android. There are already 40,000 subscribers.

Although only available in the New York area, there are roll-out plans for other large cities. And of course, the Israeli entrepreneurs have the eyes on the commercial potential of the global market.