Intelligent Traffic Control (ITC), a Tel Aviv, Israel-based provider of cutting-edge traffic management for the 21st century that prevents traffic-related accidents, raised $5 million in a Series A funding round co-led by Champel Capital and Mobilitech Capital.
"We are thrilled to be joining Champel's impressive portfolio of companies as we focus on scaling globally," said Dvir Kenig, Co-Founder and CTO of Intelligent Traffic Control (ITC). "The companies that Champel Capital Invests in improve the lives of humankind, and together we share this vision of making cities a better place to live."
ITC's scalable, plug-and-play technology is being deployed in the United States, Brazil, Australia, Israel, and Europe, managing millions of cars weekly and currently working with the municipality of Tel Aviv and Netivei Israel, a national road operator.
Company: ITC - Intelligent Traffic Control
Raised: $5.0M
Round: Series A
Funding Month: December 2022
Lead Investors: Champel Capital and Mobilitech Capital
Additional Investors:
Company Website: https://www.itc.city/
Software Category: Traffic Management
About the Company: ITC is an AI-driven traffic management company that can prevent traffic jams by managing them right before they start to accumulate. ITC 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. ITC's cutting-edge computer vision algorithm uses off-the-shelf cameras (already installed in numerous intersections) to obtain live traffic data. ITC's algorithms are sensitive enough to correctly identify 99% of vehicles, buses, ambulances, bikers, and pedestrians and detect a range of parameters about these objects' behaviors.
Source: https://www.prweb.com/releases/2022/11/prweb19042950.htm