“AI is overtaking the traffic engineering ability to manage traffic”

“The founders come from the background of AI, Math, Machine Learning, and Computer Vision – not from traffic administration,” defined Dvir Kenig, Co-Founder and CTOof traffic administration platform ITC. “In latest years we noticed how AI is overtaking the docs’ ability to diagnose illness with out a background in medication, and now we present how AI is overtaking the traffic engineering ability to manage traffic, with out a background in traffic engineering.”ITC has not too long ago raised $5 million for its platform which integrates into current traffic infrastructure, serving to to optimize traffic routes for automobiles and pedestrians. “We succeeded in proving that many traffic jams might be prevented if we simply manage it proper earlier than it even begins,” he continued. “After a profitable POC in Tel Aviv, we are actually increasing in the metropolis and doing considered one of the world’s largest AI-driven traffic administration tasks, which is anticipated to cut back the traffic jams in Tel Aviv.”

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The firm has joined CTech for its Startup Boarding Pass collection to share the way it hopes to change the traffic challenges round the world.Product/Service description:At ITC, a 5G-based traffic administration platform, we’re constructing software program that solves traffic jams. Based on current {hardware} (current cameras and current traffic mild infrastructure), we’ve developed pc imaginative and prescient and machine studying algorithms that predict traffic patterns and stop traffic congestion earlier than they even accumulate. While doing so, the software program additionally enforces municipal traffic insurance policies, equivalent to public transport, bicycle, and pedestrian priorities. The firm has a confirmed ability to cut back traffic jams, cut back CO2, and execute municipality coverage, which was validated in a number of key gamers’ beta websites in Israel and overseas. Aharon Brauner, Co-Founder and CEO; Dvir Kenig, Co-Founder and CTOLast Investment Round: $5 millionLast Investment Stage: Series ADate of Last Investment: December 2022Total funding to date: $8 millionInvestors (main and all): Champel Capital, Mobilitech Capital – Dan public transportation, Samelet Group, Shikun Binui, Highroad, contemporary.fund, Israel Innovation authority, and angels Current variety of staff: 10The spouse of Co-Founder and CEO Aharon Brauner (Yael Brauner) was on her means to take the child from the kindergarten and was standing at a traffic mild when she noticed the reverse lane was empty and nonetheless receiving a inexperienced mild for a number of seconds. Then she talked along with her husband about how inefficient the strategies utilized by traffic lights are to manage our time: Primitive, with none ability to perceive the traffic sample and the demand. The day after her husband Aharon Brauner contacted his buddy Dvir Kenig, they usually began ITC. What is the want for the product?Traffic jams are considered one of the largest issues in the world. Given the incontrovertible fact that cities are rising and extra folks need to come to the large cities, the demand is simply growing with the years (greater than 60 million automobiles joined the highway in 2020), dealing with restricted options to enhance the infrastructure ability to move extra automobiles. This creates traffic jams that enhance from 12 months to 12 months. In addition, the traffic lights at the moment haven’t any ability to combination knowledge, be taught, or use AI to manage folks’s time higher. It’s simply working by a set plan that modifications between the hours. In addition to that when a pedestrian is on their means to the crossing, there is no business system at the moment that detects them and takes their ready beneath the traffic mild decision-making upfront of their arrival. How is it altering the market?ITC is giving the municipality a instrument to execute its coverage. If it is to prioritize pedestrians which are ready, public transportation, or stop traffic jams. We efficiently mathematically show that many traffic jams might be prevented if we simply manage them proper earlier than they even begin. This reveals the potential of how a lot wasted time there is on our every day roads, triggered due to the inefficiency of the current system. ITC is planning to give thousands and thousands of individuals round the globe their time again.

ITC software program is related to the current digital camera infrastructure. Tel Aviv and each metropolis round the globe have 1000’s of shelf cameras deployed. By leveraging their current deployment, ITC is gathering knowledge from the digital camera and studying the traffic demand and the traffic jam accumulation course of. The incontrovertible fact that ITC is a pure software program resolution makes it very simple to deploy, with a value that is extra related than the different that requires set up. Our purchasers had been in shock that we succeeded in decreasing the time folks spend in congestion utilizing solely software program with none bodily {hardware}. This is a game-changer in the market. How large is the marketplace for the product and who’re its major prospects?Every metropolis round the globe has traffic lights that manage the every day commuters. The market is limitless. Our shopper is the municipality that may buy this resolution, and the traffic mild firms that distribute our software program via their current relations.Does the product exist already? If not – at what stage is it and when is it anticipated to hit the market?The product already exists, and has already confirmed that it may possibly cut back congestion by 30%. It is already deployed in the USA, Brazil, Australia, and Israel. These days we’re extensively increasing in Tel Aviv with a pipeline of purchasers that made pre-orders and are anticipated to deploy the system throughout Q1 and Q2 of 2023.Who are the major rivals on this sector and the way large are they?The traffic lights firms that are offering new options not too long ago based mostly on induction loops (a wire that individuals put in the concrete) and a number of other {hardware} firms which are placing LiDAR and particular tools at intersections that may detect objects. We are totally different in that we’re related to the current infrastructure and don’t require any further set up. In addition, we now have two professors of AI on our group, and with them, we’re growing cutting-edge AI algorithms that may sense small traffic jams accumulation processes in the intersection, and may tailor options even earlier than the traffic jams begin, whereas different firms present options based mostly on the present scenario and never the predicted one. What is the added worth that the founders convey to the firm and the product? The founders come from the background of AI, Math, Machine Learning, and Computer Vision – not from traffic administration. In latest years we noticed how AI is overtaking the docs’ ability to diagnose illness with out a background in medication, and now we present how AI is overtaking the traffic engineering ability to manage traffic, with out a background in traffic engineering. What will the cash coming in from the spherical be used for? Productization – shifting the working expertise to a scalable product. To make our system be deployed in 0 human hours, broaden in 0 human hours, so for the subsequent few years, we will attain 1000’s of intersections with a small AI knowledgeable group that focuses solely on the AI algorithm growth. We are additionally planning to broaden our current tasks in the USA and European markets. In the “Startup Boarding Pass” part, CTech will cowl the (comparatively) small investments made in firms throughout the early phases of their existence – and the entrepreneurs and startups who haven’t but had the alternative to reveal their tales to the world. Please use the linked type and fill it out in accordance to the pointers. This type is meant for startups elevating between $500,000 and $3 million from enterprise capital funds, angels, or official grants from Israeli and international establishments. If related, somebody at CTech will likely be in contact for follow-up questions.

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