NoTraffic raises $17.5 million for real-time traffic management platform
The Israeli startup’s autonomous platform identifies, categorizes, and tracks all road users - including passenger and non-passenger vehicles, bikes, e-scooters, buses, and pedestrians
Israeli startup NoTraffic, which has developed a real-time, plug-and-play autonomous traffic management platform, has raised $17.5 million in a Series A round led by Nielsen Ventures, a firm founded by former Uber and Dropbox executive and ex Balderton Capital GP, Lars Fjeldsoe-Nielsen and VEKTOR Partners, a VC firm focused on mobility disruption. Early-stage venture capital investment firm Grove Ventures, insurance leader Menora Mivtachim Group and Meitav Dash also participated, alongside existing investors, lool ventures, who led the company’s Seed round, Next Gear Ventures, and North First Ventures.
The company’s real-time, plug-and-play autonomous traffic management platform identifies, categorizes, and tracks all road users - including passenger and non-passenger vehicles, bikes, e-scooters, buses, and pedestrians. The system combines all-weather sensors installed at intersections with a 24/7 network operation center (NOC) that augments the sensors’ information with integrated data collected from vehicles and infrastructure.
The NoTraffic team. Photo: NoTraffic
NoTraffic, founded in 2017 by Tal Kreisler, Uriel Katz and Or Sela, has raised $25.5 million to date and employs over 30 people in its offices in Tel Aviv and San Francisco.
NoTraffic’s automated system is being used by authorities across North America including the City of Phoenix and in the State of California.
“Instead of looking at the challenges presented by traffic jams, NoTraffic's approach looks at the opportunities provided by improved traffic flow," said Lars Fjeldsoe-Nielsen. "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.”
Tal Kreisler, CEO of NoTraffic, said: “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.”