Smart Traffic Startup NoTraffic Raises $3.2 Million Seed Investment
NoTraffic develops a traffic management platform designed to optimize flow through traffic lights
CTech | 12:57 05.11.2018
Israeli smart mobility startup NoTraffic Ltd. announced Monday it had raised a $3.2 million Seed investment. Tel Aviv-based venture capital firm Lool Ventures led the round, which was participated by NextGear Ventures and North First Ventures. NoTraffic develops a system for real-time traffic management in urban environments, which is based on a network of plug and play sensors and real-time vehicle-to-infrastructure communication. According to NoTraffic, the company’s artificial intelligence algorithms are capable of identifying and correctly predicting vehicles’ arrival time at a traffic light and optimizing traffic light timing to improve flow.
Founded in 2016 and based in Tel Aviv, NoTraffic already operates several pilot programs in California. In the coming months, the company will use the funding to launch additional pilot programs in the U.S., NoTraffic said in a statement.