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.
Register Now
NoTraffic Technologies, an innovative infrastructure company, today announced it has secured a $50 million investment to equip roads with intelligent sensors, aiming to reduce traffic congestion.
The investment, which comes from a consortium of venture capitalists, will be used to create a comprehensive network of sensors throughout roads and cities in the US and other regions around the world. NoTraffic’s technology will enable cities and municipalities to better identify and address hot spots of traffic congestion.
The announcement comes amidst increasing public demand for more efficient and well-designed transportation infrastructure. Studies show that traffic congestion is costing US cities nearly $170 billion each year. NoTraffic’s sensors are designed to collect real-time road condition data and impact traffic management decisions such as routing and redirection, in order to mitigate the negative effects of traffic congestion.
“We are thrilled to receive this significant financial investment,” said NoTraffic Technologies chairman and CEO, Alex Cone. “We plan to use our newly acquired funding to expand our network of sensors to more cities and municipalities, which will help reduce traffic congestion and save countless hours of wasted time.”
In addition to the investment, NoTraffic Technologies is working with public officials in various cities nationwide to implement pilot projects to reduce congested areas. A successful pilot in Washington DC has been used for over a year as a model for other cities.
NoTraffic Technologies has also committed to using privacy-friendly data collection practices. The company has taken additional measures to protect the personal data of customers, such as anonymizing collected data and using secure cloud-based storage solutions.
NoTraffic Technologies’ long-term vision is to improve transportation planning and operations around the globe. With the fast-growing population and limited resource availability, the company understands the importance of finding modern and effective solutions to today’s increasingly congested roads and highways.
