NoTraffic – a leading mobility platform – recently announced the successful completion of a $50 million Series B funding led by M&G Investments with participation from VNV Global and UMC Capital as well as existing investors Grove Ventures, Vektor Partners, Next Gear Ventures, North First Ventures, Meitav Investment House, Alchimia Investments, and TMG. And the new funding round enables NoTraffic to accelerate its growth momentum, increasing production, R&D, and sales into new global markets including Japan, Italy, Germany, and the UK.
The company’s core infrastructure market is currently experiencing significant tailwinds and its most successful period to date, partially due to the $1.2 trillion US infrastructure bill. And several structural factors continue to drive demand for digital transformation in the mobility space, not least of which is the pressing need to reduce traffic fatalities, alleviate road congestion which grows 12% each year, and reduce carbon dioxide road emissions, which accounts for 29% of the US total. NoTraffic is also well-placed to support this digital transformation with its effective, practical, and economical solutions.
More than 100 years have passed since the first electric traffic light was installed in Cleveland, Ohio in 1914. And now with countless industries witnessing a digital overhaul and most traffic signals still operating on pre-set timing plans, the traffic industry is now ripe for innovation and modernization. Through a seamless deployable solution that is retrofitted onto existing infrastructure, NoTraffic offers a first-of-its-kind AI-powered platform paired with a software-defined SaaS platform, empowering Departments of Transportation (DOTs) and other stakeholders to manage traffic in real-time. And acting as a one-stop shop for all mobility needs and cutting down interdependencies on expensive legacy vertical solutions with limited interoperability, NoTraffic offers a first-ever mobility marketplace with access to multiple services for enhanced safety, data analysis, efficiency, detection, and more.
Plus by leveraging a network of smart sensors deployed at signalized intersections, conflict points, or complex roadways, the platform gives traffic authorities and infrastructure operators the ability to fully control and prioritize traffic flow for all kinds of transportation — cars, bicycles, buses, pedestrians, and more. NoTraffic utilizes edge computing technology, pioneering unparalleled software-defined infrastructure that facilitates real-time decision-making at both local and cloud levels.
The company quickly transforms any signalized intersection into a cloud-connected and dynamic network capable of understanding the complete traffic picture in any given area to respond instantly to all road users. And the system combines and shares data generated by NoTraffic’s proprietary intelligent edge sensors together with connected and autonomous vehicles (V2X) data and other data sources to manage traffic flows in real time. This company’s technology is enabling a turning point for communications between road users and traffic infrastructure and is poised to be a fundamental milestone in the rise of the next generation of mobility.
NoTraffic works with a group of partners and distributors to support local and state Departments Of Transportation to provide an efficient and affordable platform that seamlessly integrates with existing infrastructure. And it is currently deployed in numerous locations across North America, including in California, Texas, Pennsylvania, Colorado, Georgia and more, serving millions of drivers per day. The company’s innovative technology was recognized and awarded as a TIME100 Most Influential Company in 2022.
KEY QUOTES:
“NoTraffic is poised to elevate traffic management beyond its legacy infrastructure boundaries. Much like mobile phones disrupted the fixed line of their business, it was Apple’s AppStore that opened the door to a vast range of new applications, business models and revenue pools. NoTraffic’s SaaS platform is designed to similarly create unique insights and functionalities that can flexibly be provided to stakeholders without changes to the infrastructure. This funding is another step in our mission to revolutionize the way traffic is being managed today and enables the next generation of advanced mobility services to help better adapt our infrastructure for the rise of autonomous vehicles.”
— Tal Kreisler, Co-Founder and CEO of NoTraffic
“NoTraffic is solving longstanding urban problems while simultaneously taking critical steps to prepare roads for an era of connected and autonomous vehicles.”
— Carl Vine at M&G Investments
“NoTraffic’s obvious value proposition is supported by its robust business model and clear vision for the future. We believe the company can scale its cutting-edge technology solution to capture a significant share of this exciting and important sector. In doing so, NoTraffic will make our urban environments cleaner, safer, and more efficient.”
— Praveg Patil, from M&G Investments’ Catalyst team
