NoTraffic, a pioneering mobility infrastructure startup, has recently concluded its Series B funding, raising an impressive $50 million. Led by M&G Investments, this substantial investment positions NoTraffic to propel its growth trajectory, ramp up production, advance research and development initiatives, and expand its sales operations into new international markets, including Japan, Italy, Germany, and the UK.
At the heart of NoTraffic's offerings lies an innovative AI-powered platform, complemented by a software-defined Software-as-a-Service (SaaS) platform. This cutting-edge solution empowers U.S. Departments of Transportation (DOTs) and other stakeholders to effectively manage traffic in real time.
The platform's remarkable capabilities encompass the classification of all road users, ranging from private vehicles, public transportation, emergency services, to pedestrians, and beyond. By intelligently responding to real-time traffic conditions, NoTraffic's platform aims to curtail travel times, reduce CO2 emissions, and enhance safety.
NoTraffic's advanced technology is already in use across multiple locations in North America, including California, Texas, Pennsylvania, Colorado, and Georgia, successfully transforming the way traffic is managed in these regions.
Tal Kreisler, the Co-Founder and CEO of NoTraffic, emphasizes the company's ambition to transcend the confines of traditional traffic management infrastructure. Drawing a parallel with the transformative impact of mobile phones on fixed-line communication, Kreisler highlights how Apple's AppStore revolutionized the landscape of applications, business models, and revenue streams. Similarly, NoTraffic's SaaS platform is designed to unlock unique insights and functionalities that can seamlessly be provided to stakeholders without necessitating modifications to existing infrastructure. This recent funding round represents a significant milestone in NoTraffic's mission to revolutionize traffic management practices, enabling the emergence of advanced mobility services that effectively adapt infrastructure for the imminent rise of autonomous vehicles.
Carl Vine, representative from M&G Investments, applauds NoTraffic's multifaceted approach to tackling long-standing urban challenges while simultaneously laying the groundwork for a future dominated by connected and autonomous vehicles.
NoTraffic was established in 2017 by Tal Kreisler, Uriel Katz, and Or Sela, and has its headquarters in Tel Aviv, Israel, with a presence in Palo Alto, California. With this latest round of funding, NoTraffic is primed to accelerate its vision of transforming traffic management by harnessing the power of artificial intelligence, offering a promising glimpse into a future of enhanced mobility.