Intelligent traffic control raises $5M USD in Series A funding
Intelligent Traffic Control, an Israeli provider of computer vision and AI/machine learning algorithms for traffic management, raised $5M in Series A funding.
The round was led by Champel Capital and Mobilitech Capital.
The company intends to use the funds to accelerate growth and expand development efforts.
ITC has developed computer vision and AI/machine learning algorithms that predict traffic patterns and prevent traffic congestion before they accumulate, using existing cameras and traffic light infrastructure. Through measurement, prediction, and mitigation, the software also enforces municipal traffic policies, such as public transport, bicycle, and pedestrian prioritization. Its algorithms uses off-the-shelf cameras (already installed in numerous intersections) to obtain live traffic data.
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ITC’s scalable, plug-and-play technology is being deployed in the United States, Brazil, Australia, Israel, and Europe, managing millions of cars weekly. Notably, ITC is currently working with the municipality of Tel Aviv and Netivei Israel, a national road operator.
Source: FinSMEs
