Can AI help reduce traffic jams? NoTraffic raises $50M | VentureBeat
source link: https://venturebeat.com/ai/can-ai-help-reduce-traffic-jams-notraffic-raises-50m-to-outfit-roads-with-smart-sensors/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Can AI help reduce traffic jams? NoTraffic raises $50M to outfit roads with smart sensors
Join top executives in San Francisco on July 11-12, to hear how leaders are integrating and optimizing AI investments for success. Learn More
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.
Under the hood
Kreisler also explained to VentureBeat that NoTraffic’s intelligent intersection sensors combine several technologies, including cameras, radar, edge computing and V2X (vehicle-to-everything) communication models.
Event
Transform 2023
Join us in San Francisco on July 11-12, where top executives will share how they have integrated and optimized AI investments for success and avoided common pitfalls.
“Our sensors process the surrounding data, translate it into actionable insights in real time, and communicate with the surrounding infrastructure to operate in an interconnected system,” Kreisler wrote.
NoTraffic says its wireless sensors offer plug-and-play installation, allowing for seamless integration into existing infrastructure within a span of just two hours.
The data is transmitted wirelessly and made available to traffic operators through NoTraffic’s Mobility Operating System (MOS), which uses AI, though the company is keeping its exact models under wraps.
“NoTraffic leverages AI for its proprietary computer vision neural networks and traffic optimization algorithms,” Kreisler wrote to VentureBeat.
Safety first
Kreisler emphasized that NoTraffic’s primary focus is not on enforcing laws, but on improving safety through analytics-driven solutions.
“We believe in understanding the root cause of traffic issues and applying the most relevant and effective solutions on a case-by-case basis,” Kreisler said. “NoTraffic [by] retrofitting existing signalized systems empowers traffic operators with the ability to process road data, interpret it in real time and communicate with other intersections.”
The platform operates autonomously based on policies set by traffic operators, optimizing efficiency and safety for all road users.
By utilizing AI SaaS platforms and sensor technology, NoTraffic empowers traffic operators to make data-driven decisions that optimize traffic flow. The combination of real-time data processing and advanced AI algorithms ensures effective management of traffic congestion.
Early milestones
NoTraffic says its innovative solutions have already demonstrated significant impact in various locations. Kreisler highlighted success stories such as reducing travel time by 70% and eliminating daily traffic congestion of approximately one mile on a single corridor in Tucson, Arizona.
Additionally, in Phoenix, a study showcased a 70% reduction in red light runners, dramatically lowering the probability of accidents.
NoTraffic’s partnership with Rogers Communications in British Columbia, Canada, led to a 40% reduction in pedestrian delay time without compromising service for other road users.
With its AI-driven technology and commitment to innovation, NoTraffic claims to be at the forefront of revolutionizing traffic management. By seamlessly integrating AI algorithms, advanced sensors and real-time data processing, the company wants to work with municipal governments and transportation agencies to create safer, more efficient urban environments.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.
Recommend
-
4
How mob programming and sourcing jams activate collaboration at Detectify May 28, 2021 Collaboration Rules is a c...
-
7
Traffic Jams Are Possible in Elon Musk’s Tunnels, ApparentlyAfter claims that the Boring Company's Tesla-filled tunnels will solve traffic congestion, the Vegas loop gets backed up during CES.Ja...
-
4
Greenly aims to help SMEs track and reduce their carbon emissions, raises $22M Image Credit: Witthaya Prasongsin via Getty Images
-
9
Afresh raises $115M in funding to reduce food waste with AI
-
6
Automating data pipelines: How Upsolver aims to reduce complexity
-
8
news Yandex Taxi Was Hacked, Causing Traffic Jams In Moscow ...
-
3
Traffic jams are tied to lower birth weights, study findsTraffic jams are tied to lower birth weights, study finds / We already knew tailpipe pollution was bad, but traffic congestion can make things even wor...
-
7
Chinese Startup’s $140,000 Car Can Fly Ove...
-
4
February 19th, 2023 This Is My Jam was a lovely website. Created by
-
6
Manchester using Google AI to cut traffic jams Early tests of technology successfully reduce waiting times during rush hou...
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK