Blockchain Press Releases
Driving the Future: NoTraffic Accelerates with $50 Million Series B Funding for the Next Generation of Mobility Infrastructure
This latest funding round bolsters the company’s position as a pioneering company digitizing the mobility industry and sets the stage for further growth and innovation
TEL AVIV, Israel and PALO ALTO, Calif., June 27, 2023 /PRNewswire/ — NoTraffic, the leading mobility platform, announced today the successful completion of a $50 million Series B funding led by M&G Investments with participation from VNV Global and UMC Capital, as well as existing investors Grove Ventures, Vektor Partners, Next Gear Ventures, North First Ventures, Meitav Investment House, Alchimia Investments, and TMG. The new round allows NoTraffic to accelerate its growth momentum, increasing production, R&D and sales into new global markets including Japan, Italy, Germany, and the UK.
NoTraffic’s core infrastructure market is currently experiencing significant tailwinds and its most successful period to date, thanks in part to the $1.2 trillion US infrastructure bill. In addition, several structural factors continue to drive demand for digital transformation in the mobility space, not least of which is the pressing need to reduce traffic fatalities, alleviate road congestion which grows 12% each year, and reduce CO2 road emissions, which account for 29% of the US total. NoTraffic is well placed to support this digital transformation with its effective, practical and economical solutions.
Over 100 years have passed since the first electric traffic light was installed in Cleveland, Ohio in 1914. Now, with countless industries witnessing a digital overhaul and most traffic signals still operating on pre-set timing plans, the traffic industry is ripe for innovation and modernization. With a seamless deployable solution that is retrofitted onto existing infrastructure, NoTraffic offers a first-of-its-kind AI-powered platform paired with a software-defined SaaS platform, empowering Departments of Transportation (DOTs) and other stakeholders to manage traffic in real time. Acting as a one-stop shop for all mobility needs and cutting down interdependencies on expensive legacy vertical solutions with limited interoperability, NoTraffic offers a first-ever mobility marketplace with access to multiple services for enhanced safety, data analysis, efficiency, detection and more. In addition, by leveraging a network of smart sensors deployed at signalized intersections, conflict points, or complex roadways, the platform gives traffic authorities and infrastructure operators the ability to fully control and prioritize traffic flow for all kinds of transportation — cars, bicycles, buses, pedestrians and more. NoTraffic utilizes edge computing technology, pioneering unparalleled software-defined infrastructure that facilitates real-time decision making at both local and cloud levels.
“NoTraffic is poised to elevate traffic management beyond its legacy infrastructure boundaries. Much like mobile phones disrupted the fixed line of their business, it was Apple’s AppStore that opened the door to a vast range of new applications, business models and revenue pools. NoTraffic’s SaaS platform is designed to similarly create unique insights and functionalities that can flexibly be provided to stakeholders without changes to the infrastructure,” said Tal Kreisler, Co-Founder and CEO of NoTraffic. “This funding is another step in our mission to revolutionize the way traffic is being managed today and enables the next generation of advanced mobility services to help better adapt our infrastructure for the rise of autonomous vehicles.”
NoTraffic quickly transforms any signalized intersection into a cloud connected and dynamic network capable of understanding the complete traffic picture in any given area to respond instantly to all road users. The system fuses and shares data generated by NoTraffic’s proprietary intelligent edge sensors together with connected and autonomous vehicles (V2X) data and other data sources to manage traffic flows in real-time. This technology is enabling a turning point for communications between road users and traffic infrastructure and is poised to be a fundamental milestone in the rise of the next generation of mobility.
“NoTraffic is solving longstanding urban problems while simultaneously taking critical steps to prepare roads for an era of connected and autonomous vehicles,” said Carl Vine at M&G Investments.
“NoTraffic’s obvious value proposition is supported by its robust business model and clear vision for the future. We believe the company can scale its cutting-edge technology solution to capture a significant share of this exciting and important sector. In doing so, NoTraffic will make our urban environments cleaner, safer, and more efficient,” added Praveg Patil, from M&G Investments’ Catalyst team.
NoTraffic works with a network of partners and distributors to support local and state Departments Of Transportation to provide an efficient and affordable platform that seamlessly integrates with existing infrastructure. It is currently deployed in numerous locations across North America, including in California, Texas, Pennsylvania, Colorado, Georgia and more, serving millions of drivers per day. The company’s innovative technology was recognized and awarded as a TIME100 Most Influential Company in 2022.
About NoTraffic
NoTraffic, the developer of the world’s leading mobility platform, is on a mission to digitize the backbone of transportation and streamline the next generation of traffic mobility. The company’s end-to-end, plug-and-play autonomous traffic management platform leverages AI and edge computing to reconfigure signalized city intersections into one fully automated, cloud-connected hub. In less than 2 hours of installation, the platform can classify all road users including – private vehicles, public transportation, emergency services, pedestrians and more – and respond accordingly to traffic conditions in real-time to reduce travel times and CO2 emissions and improve safety. Ranked in TIME Magazine’s 100 Most Influential Companies list, NoTraffic is trusted by leading states in North America and has formed strategic partnerships with major communication giants such as AT&T and Rogers Communications. The company was founded in 2017 by Tal Kreisler, Uriel Katz, and Or Sela.
To learn more about NoTraffic, visit: https://www.notraffic.tech
About M&G Investments
M&G Investments have made this investment from funds that include its Catalyst strategy. Catalyst is a global, flexible strategy investing in companies with innovative solutions to some of the world’s biggest environmental and social challenges.”
M&G Investments is part of M&G plc, a savings and investment business with over $425 billion of assets under management (as at 31 March 2023). M&G plc has customers in the UK, Europe, the Americas and Asia, including individual savers and investors, life insurance policy holders and pension scheme members.
For more information, please visit: https://global.mandg.com/
Media Contact
Mike Katznelson
Headline Media
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View original content:https://www.prnewswire.co.uk/news-releases/driving-the-future-notraffic-accelerates-with-50-million-series-b-funding-for-the-next-generation-of-mobility-infrastructure-301864233.html
Blockchain Press Releases
Institutions Have Doubled their Bitcoin Allocations this Year, New Bybit Report Shows
DUBAI, UAE, Dec. 1, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, has released new research offering analysis of how traders adapt their strategies in fluctuating market conditions. “Navigating Bull and Bear Markets — A Dive Into Asset Allocation,” uses Bybit’s proprietary data and is the first initiated by a crypto exchange.
The report provides a detailed examination of asset allocation strategies employed by different cohorts — institutions, VIPs, and retail traders — especially in the volatile market environment since December 2022.
Key findings include:
- Institutional Investors: Predominantly holding 45% in stablecoins, 35% in Bitcoin, and 15% in Ether, institutions emphasize liquidity and strategic diversification. Notably, their Bitcoin holdings nearly doubled in the first three quarters of 2023.
- Ether Trends: A decline in institutional interest in Ether has been noted, although upcoming market developments, like the rumored BlackRock spot Ether ETF, could shift the trend.
- Retail Trader Behavior: Retail traders are observed to hold more stablecoins, suggesting a more cautious allocation to riskier assets compared to traditional finance norms.
- Altcoin Investments: Both retail and VIP traders show higher altcoin holdings than institutional investors, although these remain a minor part of total portfolios, indicating caution, perhaps due to a hangover from the recent bear market.
“This report is a testament to Bybit’s commitment to empowering our users with actionable insights,” said Ben Zhou, co-founder and CEO. “Understanding how different market participants navigate the complexities of bull and bear markets is crucial. We believe this research will not only enlighten our traders but also contribute to the broader crypto community’s understanding of market dynamics.”
#Bybit / #TheCryptoArk
About Bybit
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
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View original content:https://www.prnewswire.co.uk/news-releases/institutions-have-doubled-their-bitcoin-allocations-this-year-new-bybit-report-shows-302003220.html
Blockchain Press Releases
Set Sail on a Crypto Voyage: Bybit Announces ByBUIDLERs Cruise Contest to Dubai in Partnership with Sea Summit
DUBAI, UAE, Dec. 1, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, is excited to announce the ByBUIDLERs Cruise Contest, an extraordinary opportunity for crypto enthusiasts in India. This contest offers a chance to win a luxurious 10-day cruise from Mumbai to Dubai, coupled with an exciting Sea Summit experience and a visit to Bybit’s Dubai office.
Introducing ByBUIDLERs
ByBUIDLERs is Bybit’s initiative that combines grassroots enthusiasm with the thrilling world of cryptocurrency. Designed for crypto aficionados, the program invites participants to engage with the community, create compelling content, and contribute to Bybit’s growth and outreach.
Participation Steps
- Enlist as a ByBUIDLER: To join, provide your name, email, and social media profile link. Express in 100 words your excitement about becoming a ByBUIDLER via our Google form.
- Take the Bybit 5th Anniversary Personality Quiz: Complete the personality quiz and share your results on social media, highlighting how your personality influences your crypto journey.
- Participants must post their entries before December 6th, tagging @Bybit and @TheSeaSummit, using the hashtags #ByBUIDLERcruisetrip and #High5Bybit.
Rewards
The top five most creative ByBUIDLERs, judged by their engagement and creativity, will embark on the Sea Summit 10-day luxury cruise, setting sail from Mumbai to Dubai. The cruise is also a crypto summit where winners will meet leaders in crypto, participate in educational events, and attend themed party nights.
#Bybit / #TheCryptoArk
About Bybit
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For media inquiries, please contact: [email protected]
For more information please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X (Twitter) | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/set-sail-on-a-crypto-voyage-bybit-announces-bybuidlers-cruise-contest-to-dubai-in-partnership-with-sea-summit-302003138.html
Blockchain Press Releases
Bitget Wallet Integrates TON Mainnet, Prepares for TON and Telegram-Based Innovative Products
Bitget Wallet Integrates TON Mainnet, Prepares for TON and Telegram-Based Innovative Products
VICTORIA, Seychelles, Nov. 30, 2023 /PRNewswire/ — The leading Web3 trading wallet, Bitget Wallet (formerly known as BitKeep Wallet), now supports TON (The Open Network). TON, a high-performance Layer 1 blockchain, was initially designed by the Telegram team and later advanced by the community.
The TON integration allows users to add the TON network with a single click, manage assets, and perform on-chain transactions. Looking ahead, Bitget Wallet plans to further expand its services to include support for TON ecosystem DApps, token trading, and candlestick chart features. Additionally, Bitget Wallet is set to launch innovative products and services based on TON and Telegram, such as the Telegram Red Packet feature.
TON, with its Telegram-originated blockchain solution, is designed for high scalability, targeting millions of transactions per second (TPS) to serve Telegram’s extensive user base. This performance capability positions TON as a pivotal player in the evolving digital landscape. By building a Web3 ecosystem within Telegram, TON is committed to bridging Web2 and Web3, promoting the widespread adoption of cryptocurrencies and decentralized technologies.
Bitget Wallet’s support for TON reflects a recognition of its innovation and anticipation of Telegram’s user base venturing into Web3. This aligns with Bitget Wallet’s ongoing commitment to providing convenient, user-friendly product experiences and opening the doors to Web3 for its users.
To date, Bitget Wallet has served over 12 million users worldwide, becoming one of the most popular crypto hot wallets globally, with its app ranking fourth in global downloads in October. The integration with the TON mainnet is also expected to enhance the liquidity and user base of the TON network.
About Bitget Wallet (Web3 trading wallet)
Formerly known as BitKeep, Bitget Wallet stands as Asia’s largest and global frontrunner among all-in-one Web3 trading wallets. We offer a comprehensive range of on-chain products and DeFi services to our users, including wallet functionality, Swap feature, NFT trading, DApp browsing, MPC Wallet and more.
With a 5-year legacy, Bitget Wallet has garnered acclaim from over 12 million users worldwide and has secured partnerships with prominent industry leaders including Ethereum, BNB Chain, Arbitrum, Polygon, Solana, Base, and others. This success stems from our commitment to consistently delivering secure and convenient products and services.
In March 2023, Bitget, a leading crypto derivatives trading platform made a substantial $30 million investment in BitKeep, acquiring a controlling stake. Following this strategic move, BitKeep underwent a transformative and strategic brand evolution in August, officially rebranding itself as Bitget Wallet.
For more information, visit: Website | Twitter | Telegram | Discord
View original content:https://www.prnewswire.co.uk/news-releases/11-30—bitget-wallet-integrates-ton-mainnet-prepares-for-ton-and-telegram-based-innovative-products-302001956.html
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