NoTraffic, the Tel Aviv-based AI traffic management platform, has raised $50 million in a Series B funding round. The startup aims to modernize traffic lights by transforming intersections into smart nodes that manage traffic flows based on real-time data. Their combined hardware-software solution aligns with the Biden administration’s ongoing infrastructure bill to combat traffic congestion, reduce CO2 emissions, and lower road fatalities.
“NoTraffic is set to elevate traffic management beyond traditional infrastructure constraints,” said Tal Kreisler, co-founder and CEO of NoTraffic. The company’s technology can not only streamline traffic flow but also help prevent road accidents by detecting potential risks and alerting connected vehicles to avoid collisions.
Since its Series A in July 2021, NoTraffic has grown significantly, now operating in 13 U.S. states. The new funding will enable NoTraffic to expand into markets including Japan, Italy, Germany, and the U.K., aiming to double its geographic footprint in 2023. The round was led by M&G Investments, with participation from VNV Global and UMC Capital, among others.
More here: https://techcrunch.com/2023/06/27/notraffic-raises-50m-to-tackle-congestion-and-enhance-road-safety/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADwtXt2ro4vsJsbD5kCG1DYwggs7iQGgfkTwZ-55dw3AAVeNCjZ6ORzc7OWjvztnYaZVjnkShqGPCDiXfyXBzQfI2804YkHJ7wW4Ti2nZk3oxBBAXJq1FS722-umzY774D1c0IP1njfdoJ-FS0FfubhjhmuWByYbDUwh9IlmjK8V
NoTraffic is the world’s leading mobility platform. A TIME100 Most Influential Company for 2022, NoTraffic is on a mission to digitize the foundation of transportation, to improve safety and traffic efficiency while reducing CO2 emissions.
Notraffic website: www.notraffic.tech