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June 29, 2023

NoTraffic Secures $50m in Series B Funding to Revolutionize Traffic Management

NoTraffic aims to reshape traffic flows and enhance road safety on a global scale

Tel Aviv-based AI-powered traffic management platform, NoTraffic, has made waves in the industry with its recent Series B funding round, raising an impressive $50 million. With a mission to propel traffic lights into the 21st century, NoTraffic is set to revolutionize the way cities handle traffic flow and enhance road safety. Led by M&G Investments, the funding round garnered support from renowned investors, including VNV Global, UMC Capital, and several existing backers. This infusion of capital will enable NoTraffic to expand its offering beyond intersection management, ushering in a comprehensive solution that transforms traffic management on a broader scale.

Driving Innovation and Expansion: Armed with the newly acquired funds, NoTraffic is poised to embark on an ambitious journey of growth and expansion. The company has set its sights on penetrating new markets, including Japan, Italy, Germany, and the United Kingdom. With a clear vision for 2023, NoTraffic plans to double its geographic footprint, solidifying its position as a global leader in modern traffic management solutions.

Revolutionizing Traffic with Smart Intersections: NoTraffic's innovative hardware-software combination empowers traditional intersections to become intelligent hubs capable of dynamically managing traffic based on real-time data. The solution involves installing advanced smart sensors equipped with V2X (vehicle-to-everything) chips onto existing infrastructure at key intersections, conflict points, and complex roadways. By harnessing the power of cutting-edge technology, NoTraffic aims to optimize traffic flow, reduce congestion, and enhance overall road safety.

A Paradigm Shift in Traffic Management: Tal Kreisler, the co-founder and CEO of NoTraffic, believes that the platform has the potential to redefine the limits of traffic management beyond conventional boundaries. Drawing a parallel with the transformative impact of mobile phones and app stores, Kreisler envisions NoTraffic's SaaS platform as the catalyst for unlocking new applications, business models, and revenue streams within the traffic management landscape. By delivering unique insights and functionalities without the need for infrastructure modifications, NoTraffic strives to empower stakeholders and usher in a new era of adaptable and efficient traffic management solutions.

NoTraffic's successful Series B funding round marks a significant milestone in the company's mission to revolutionize traffic management. With a focus on leveraging AI and real-time data, As the company expands its footprint and introduces its transformative smart intersection solutions to new markets, the future holds great promise for a world where traffic management evolves to meet the demands of the 21st century.

Neil Hodgson-Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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