NoTraffic raises $50M to reduce congestion and boost road safety
NoTraffic, an AI-based platform for traffic management, has secured $50 million in Series B funding as it gains traction in American cities. The cash infusion occurs as the second year of the Biden administration's infrastructure package begins and a number of funding initiatives to lessen traffic congestion, address CO2 emissions, and decrease road fatalities begin.
The Tel Aviv-based startup's goal is to modernize traffic lights. Most traffic junctions use timers, although the technology exists now for a more automated system.
complex solution. The combination hardware-software solution from NoTraffic transforms crossings into smart intersections that can regulate traffic flows based on real-time data collection.
Tel Aviv startup NoTraffic aims to modernize traffic lights using a hardware-software solution, transforming crossings into smart intersections based on real-time data collection.
At crossroads, conflict points, and complex routes, NoTraffic's solution entails integrating smart sensors with V2X (vehicle-to-everything) chips onto existing infrastructure. Data from sensors and connected and autonomous vehicles on the road are combined to generate a complete traffic picture that includes the movement of automobiles, motorcycles, buses, pedestrians, and other road users.
Using edge computing, the system can predict which path each car will take and how it will affect the next intersection, and then make appropriate decisions.
NoTraffic uses sensors to manage intersection traffic flow and send real-time information to the cloud. This technology can prevent road accidents by detecting red light or pedestrian accidents, alerting connected cars with limited visibility to slow down and avoid collisions. NoTraffic has grown since its Series A in July 2021 and operates in 13 states.
NoTraffic intends to use the Series B capital to grow into new regions such as Japan, Italy, Germany, and the United Kingdom, with the goal of tripling its geographic footprint by 2023.
M&G Investments led the round, which included current investors Grove Ventures, Vektor Partners, Next Gear Ventures, North First Ventures, Meitav Investment House, and Alchimia.
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