Autonomous traffic management platform NoTraffic has raised a $17.5 million funding round led by former Uber executive Lars Fjeldsoe-Nielsen.
Fjeldsoe-Nielsen’s Nielsen Ventures, as well as VEKTOR Partners, led the Series A round, with participation from Grove Ventures, Menora Mivtachim Group, Meitav Dash and existing investors lool ventures, Next Gear Ventures and North First Ventures.
Founded in 2017, NoTraffic uses artificial intelligence to modernize traffic management and save cities on infrastructure and traffic management costs.
NoTraffic’s real-time, plug-and-play platform identifies, categorizes and tracks all road users, including passenger and non-passenger vehicles, bikes, e-scooters, buses and pedestrians, giving city planners more insight and control over their traffic infrastructure.
The technology also helps upgrade and future-proof traffic infrastructure to support the rise of autonomous vehicles and other shifts in digital mobility.
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With the funds, NoTraffic, which has headquarters in California and Israel, will invest in research and development, accelerate rollouts across the United States, expand into Europe and grow its team.
“NoTraffic is reinventing how entire towns, cities and countries move,” says 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 and pedestrians, for decades to come. I’m delighted to join them on this journey.”
According to NoTraffic, its partnerships with transportation departments in areas such as California and Arizona have resulted in congestion cuts by as much as 50%. In an average city, NoTraffic removes 26,000 tons of emissions, equal to taking around 5,700 vehicles off the road.
Says NoTraffic CEO Tal Kreisler, who co-founded the company alongside Uriel Katz and Or Sela: “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.”
NoTraffic plans to launch in Europe this year and is looking into other markets and verticals.