NoTraffic Raises $90 Million in Series C Funding
NoTraffic, a company specializing in AI-powered traffic management systems, has successfully closed a $90 million Series C funding round. The company, based in Tel Aviv and Kansas City, aims to transform how cities manage traffic intersections by optimizing them in real-time for safer and smarter transportation.
Investment Details
The Series C round was led by PSG Equity, with additional participation from M&G Investments, Grove Ventures, LifeX Ventures, Meitav Investment House, and Next Gear Ventures. This significant capital injection will help NoTraffic expand its reach and enhance its technology.
Company Leadership
The company was co-founded by Tal Kreisler, Or Sela, and Uriel Katz. Tal Kreisler serves as the CEO, driving the strategic vision of the company. Or Sela, the Chief Strategy Officer, and Uriel Katz, the Chief Technology Officer, are pivotal in steering the company's technological and strategic advancements.
Strategic Use of Funds
The fresh funds will primarily be used to accelerate the deployment of NoTraffic's platform across North America. The company plans to expand its presence in more than 40 states and provinces in the U.S. and Canada. This expansion aims to bring their AI-powered traffic solutions to 1 in 10 traffic agencies in these regions by mid-2026.
NoTraffic's technology converts traditional traffic signals into cloud-connected, software-defined infrastructure. This transformation allows cities to manage intersections dynamically, reducing congestion and integrating with autonomous vehicle systems without needing to alter existing hardware.
Future Outlook
With the new capital, NoTraffic intends to broaden its suite of mobility applications, further enhancing the efficiency, sustainability, and safety of urban transportation systems. The company is well-positioned to meet the growing demand for smart city solutions and anticipates significant growth in the coming years.
This funding round underscores the increasing interest in AI-driven solutions for urban infrastructure, as cities worldwide seek to improve traffic flow and safety through technological innovation.