05 Nov 2018 | News
The company develops technology for smart transportation management in an urban environment.
Israeli startup NoTraffic, which develops an Internet of Things (IoT) platform for communications between vehicles and infrastructure (V2I) today announced the completion of a $3.2 million seed financing round led by Lool Ventures and other investors, including Next Gear Ventures (controlled by the Mayer Cars and Trucks group), North First Ventures, and private investors. The company will use the money to expand development of its product, begin trials in the US, and recruit more employees. NoTraffic, a private company, was founded in 2017 by partners CTO Uriel Katz, VP R&D Or Sela, and CEO Tal Kreisler.
The beginning of trials with autonomous vehicles in cities around the world is motivating cities to look for advanced road infrastructure that will enable them to benefit from the advantages of autonomous vehicles, while improving existing traffic management systems. There is, however, no standard dictating how cities should prepare their infrastructure systems for the autonomous era. NoTraffic, a pioneer in this sector, wants to provide cities with a solution utilizing an advanced IoT platform for traffic management in an urban environment based on combining information gathered from V2I communications with information from smart sensors deployed at intersections having traffic lights at conflict points on a road.
The system is based on advanced AI algorithms that identify, classify, and monitor all road users, including pedestrians, and estimate the time at which they will reach the intersection. According to the information gathered, the system arranges the timing of traffic light changes in order to maximize the flow of traffic and reduce crowding, prioritize various types of vehicles, and prevent accidents. The company says that its system has already been installed in a number of locations in California as part of a series of tests, and will be extended to additional states in the US, including Arizona, Ohio, and Virginia. The system will be deployed at a number of intersections in cities as a pilot, and deployment will be expanded gradually.
According to the company, deployment of the system upgrades the existing traffic management systems and prepares infrastructure for an autonomous and connected world within just a few hours, while substantially reducing spending by cities on existing traffic management systems.
Published by Globes, Israel business news – en.globes.co.il – on November 5, 2018
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