Artificial intelligence (AI)-based autonomous traffic management platform NoTraffic 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.
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NoTraffic was founded in 2017 by Tal Kreisler, Uriel Katz and Or Sela to bring traffic management into the 21st century. Instead of having to rely on outdated traffic light technologies, city planners anywhere in the world can access to a fully automated, real-time management platform. The system deploys in just two hours and is backed by a 24/7 operations center.
In trials and partnerships with transport authorities across North America, including the City of Phoenix and in the State of California, NoTraffic's platform it has been shown to drop waiting times by as much as 50%. In an average city, NoTraffic has been shown to remove 26,000 tons of emissions – equal to taking around 5,700 vehicles off the road – and saving motorists 4,655 months of time stuck in traffic jams a year.
NoTraffic CEO Tal Kreisler 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."
