How many times have you been stuck at a red light, only to see the other side of the intersection on green, but nobody’s going or even coming close to the intersection? Israeli startup NoTraffic develops a traffic management platform, and wants to solve various road safety issues. The startup recently secured $17.5 million in Series A funding. The round was led by Nielsen Ventures and VEKTOR Partners. Also participating in the round: Grove Ventures, Menora Mivtachim Group and Meitav Dash alongside existing investors, lool ventures, Next Gear Ventures and North First Ventures.
“The current fundraising round is of strategic importance to us, and will help us to extend the technological breakthrough on which our developments are based, and support the expansion of our business activities,” said Tal Kreisler, CEO of NoTraffic.
Computer vision and sensors to upgrade traffic management
The NoTraffic platform autonomously manages traffic through cloud-based computer vision alongside sensor technology, which are installed at intersections and key traffic points. This enables V2X communication to better detect cars, public transport, cyclists, and pedestrians. Basically, the system provides a comprehensive overview of everything happening at a certain traffic stop.
The platform helps reduce traffic jams, idling vehicles emitting pollution, and accidents, according to the company. Taking only a couple of hours to connect an entire traffic light grid to the cloud, the system creates a digital and dynamic overview that’s powered by AI algorithms, which can be deployed according to customer needs. Additionally, the NoTraffic platform helps prevent accidents between connected vehicles and pedestrians as well as with drivers who “steal” red lights.
Furthermore, the platform also can be used to prioritize public transport based on capacity, as well as supporting emergency vehicles, logistic fleets, and pedestrians, eScooters, bikes, et. The startup uses a SaaS model, and along with the funding announced selling its platform to 3 different cities in Arizona -- Phoenix, Tucson, and Chandler -- which will use the Israeli tech to manage their busiest intersections.
NoTraffic was founded in 2017 by CTO Uriel Katz, VP R&D Or Sela, and Tal Kreisler. The company has raised $25.5 million, and employs a team of 30, split between offices in Tel Aviv and San Francisco.
“NoTraffic is reinventing how entire towns, cities and countries move”, said Lars Fjeldsoe-Nielsen. “Instead of looking at the challenges presented by traffic jams, its approach looks at the opportunities provided by improved traffic flow. Its pragmatic, bigger-picture view has seen it build a solution that works with and for everyone in a city; the authorities and their planners, commuters, tourists, businesses, pedestrians, for decades to come. I’m delighted to join them on this journey.”