NoTraffic, an Israeli traffic management startup, today announced its $50 million series B funding round. The company is on a quest to live up to the promise of its name by outfitting intersections and complex roadways with wireless smart sensors commanded by an AI-driven software-as-a-service (SaaS) platform.
The latest funding round was led by UK-based M&G Investments. NoTraffic plans to use the money to expand its presence in global markets on its quest to reduce congestion and CO2 emissions while enhancing safety.
Tal Kreisler, CEO and cofounder of NoTraffic, told VentureBeat via email that the company aims to be working with 100 traffic agencies and Departments of Transportation by the end of the year. It’s eyeing Japan, Italy, Germany and the U.K. as its go-to markets.