California and Tel Aviv, Israel, June 27, 2023 — NoTraffic, the top mobility platform, announced that a USD 50 million Series B funding, led by M&G Investments with participation from VNV Global and UMC Capital, as well as current investors Grove Ventures, Vektor Partners, Next Gear Ventures, North First Ventures, Meitav Investment House, Alchimia Investments, and TMG, had been successfully completed. With the help of the latest round, NoTraffic is able to maintain its current rate of growth while stepping up production, R&D, and sales into new international markets like Japan, Italy, Germany, and the UK.
The $1.2 trillion US infrastructure bill is one reason why NoTraffic’s core infrastructure sector is currently enjoying considerable tailwinds and its most prosperous period to yet. Additionally, a number of structural factors continue to fuel demand for digital transformation in the mobility sector, not the least of which is the urgent need to lower traffic fatalities, ease the 12% annual increase in traffic congestion, and lower CO2 emissions from roads, which account for 29% of all US emissions. With its efficient, useful, and affordable solutions, NoTraffic is well positioned to facilitate this digital transformation.
“NoTraffic is prepared to advance traffic management beyond the limitations of its outdated infrastructure. Similar to how mobile devices upended their fixed line of business, Apple’s AppStore paved the way for a wide variety of fresh applications, business models, and revenue streams. According to Tal Kreisler, co-founder and CEO of NoTraffic, “NoTraffic’s SaaS platform is designed to similarly produce distinctive insights and functionalities that can be flexibly provided to stakeholders without changes to the infrastructure.” “This financing enables the next generation of advanced mobility services to better adapt our infrastructure for the rise of autonomous vehicles and is another step in our mission to revolutionise how traffic is managed.
NoTraffic swiftly converts any signalised crossroads into a dynamic, cloud-connected network that can comprehend the full flow of traffic in any location and instantaneously respond to all motorists. To control traffic flows in real-time, the system combines and shares data provided by NoTraffic’s patented intelligent edge sensors with data from connected and autonomous vehicles (V2X) and other data sources. This technology is helping to change how people communicate with traffic infrastructure and is expected to play a major role in the development of the next generation of mobility.
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