noTraffic Raises $17.5M Series A to Expand Team

Rethinking Traffic Control: An AI-Powered Solution

A significant number of traffic intersections across the United States still rely on a century-old technology – the basic timer system. Despite advancements in artificial intelligence governing various aspects of modern life, from social interactions to shopping and food access, traffic flow management often remains predicated on pre-programmed estimates for specific times of day. However, an Israeli startup is aiming to revolutionize this process.

NoTraffic Secures Series A Funding for Expansion

NoTraffic, an innovator in AI-based traffic management, has recently secured $17.5 million in a Series A funding round. These funds will be utilized to facilitate the company’s “rapid scale” of deployments. The company intends to expand its reach into numerous U.S. cities in the latter half of the current year, with future plans encompassing European and Asian markets.

Growth and Development Plans

According to Tal Kreisler, co-founder and CEO, NoTraffic anticipates doubling its workforce, exceeding 60 employees by year-end and reaching 100 in 2022. This expansion will support the ongoing development of its products and enhancement of its AI capabilities.

The Rise of AI in Traffic Management

AI-enabled traffic systems are becoming integral to the concept of smart cities. Several Chinese companies are at the forefront of this technology, largely due to substantial government investment in cameras and 5G infrastructure. For instance, Alibaba’s City Brain currently monitors over 1,000 traffic lights in Hangzhou, a city with a population of 10 million, demonstrably reducing congestion and prioritizing emergency vehicle access. Alibaba also recently outperformed competitors from nearly 40 countries, alongside Baidu, in the AI City Challenge. While concerns exist regarding potential surveillance implications, NoTraffic emphasizes that data collected by its sensors is anonymized and designed to improve traffic flow, lessen congestion, and reduce wait times.

Early Adopters and Rapid Deployment

Several cities in Arizona, Ohio, and California have already begun implementing NoTraffic’s platform. The company asserts that retrofitting intersections with its sensors and IoT devices can be completed “in under two hours.”

How NoTraffic’s Technology Works

NoTraffic installs four AI-powered sensors on each traffic light, integrating computer vision, radar technology, and a V2X chip. This chip facilitates communication with a nearby “optimization engine,” enabling real-time decision-making. The platform is capable of detecting, categorizing, and tracking all road users, while simultaneously assessing factors such as vehicle counts per lane, anticipated arrivals from preceding intersections, the projected routes of individual vehicles, and the subsequent impact on downstream intersections, as Kreisler explains. These calculations are processed locally ("on the edge"), while synchronization between intersections occurs via the cloud, allowing the system to respond dynamically to evolving road conditions. NoTraffic utilizes its proprietary software to deliver over-the-air support, updates, and upgrades.

Predictive Algorithm and Scenario Planning

Kreisler describes the company’s algorithm as analogous to a chess player anticipating future moves. “If you’ve watched The Queen’s Gambit, there’s a scene where Liz visualizes possible moves while lying in bed,” he explains. “We perform a similar function: starting with the current intersection state and running hundreds of thousands of simulations, or ‘what if’ scenarios, based on different traffic light adjustments, to identify the optimal solution every second.”

Quantifiable Benefits and Results

According to a statement released by NoTraffic, its automated system has the potential to halve wait times, eliminate 26,000 tons of emissions, and save motorists a collective 4,655 months of time annually that would otherwise be lost in traffic congestion. Kreisler states that these figures are derived from pilot programs conducted in Arizona and California, where data was analyzed both before and after implementation.

Investment Details

The $17.5 million Series A funding round was spearheaded by Nielsen Ventures, a fund established by Lars Fjeldsoe-Nielsen, a former executive at Uber and Dropbox, and Balderton Capital GP, along with VEKTOR Partners.

Grove Ventures, a leading early-stage venture capital firm, insurance provider Menora Mivtachim Group, Meitav Dash, and existing investors including lool ventures, Next Gear Ventures, and North First Ventures also participated in the round. Lior Handelsman, a founder of Solar Edge, an energy management system company, will be joining the company’s board of directors.