Israeli startup NoTraffic announced that it raised $3.2 million in a seed funding round lool ventures with participation from Next Gear Ventures, North First Ventures, and private investors Tal Recanati and Uri Rubin.
NoTraffic, founded in 2017, developed an advanced IoT platform for traffic management in urban environments, based on the integration of information collected through communication between vehicles and infrastructure (V2I) and information from smart sensors (using computer vision) deployed at traffic light-controlled intersections and conflict points on the road, according to the company.
NoTraffic says its solution reduces traffic congestion and improves road safety in real time, while “upgrading and preparing road infrastructure for tomorrow’s world of connected and autonomous vehicles.”
The company says it will use the funds to further invest in R&D, accelerate the companies commercial roll out in the US, and recruit employees both in Israel and the US.
The company was founded by CTO Uriel Katz, VP R&D Or Sela and CEO Tal Kreisler.