Intelligent Traffic Control Provides Cutting Edge Traffic Management for the 21st Century, Preventing Traffic Related Accidents
JERUSALEM, Nov. 30, 2022 /PRNewswire-PRWeb/ -- Champel Capital is pleased to announce that Intelligent Traffic Control (ITC) has been added to its investment portfolio. Mobilitech Capital is a co-lead investor.
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.
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.
"Champel Capital prioritizes companies that align with our impact investing philosophy. ITC not only reduces CO2 emissions but has the capability of preventing tens of thousands of traffic-related deaths per year," said Amir Weitmann, Managing Partner at Champel Capital. "More than 40% of traffic accidents occur in intersections. By detecting potential collisions in real time, ITC significantly impacts accident prevention. This technology provides cities with lower infrastructure and investment costs, better city analytics, and happier citizens."
"ITC is changing the paradigm of traffic as we know it, and what they have achieved is remarkable," said Meni Maor, Managing Partner at Mobilitech Capital, a strategic VC in the mobility space. "We are excited to join ITC's journey to make cities safer and more livable and the profound improvements that ITC's technology will make in the lives of citizens and municipalities."
"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. Notably, ITC is currently working with the municipality of Tel Aviv and Netivei Israel, a national road operator.
Media Contact
Brigit Hennaman, Rubenstein Public Relations, 1 212-805-3005, [email protected]
SOURCE Champel Capital
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