Israel firm banks $5m to help solve traffic headaches in SEA

ITC co-founders Aharon Brauner (left) and Dvir Kenig / Photo credit: ITC

For decades, traffic congestion has remained one of Southeast Asia’s most pressing issues.

Based in Israel, Intelligent Traffic Control (ITC) develops computer vision and algorithms that predict traffic patterns and potentially prevent traffic congestion.

ITC said its algorithms are sensitive enough to correctly identify 99% of vehicles, buses, ambulances, and pedestrians, which helps the firm understand how they might behave.

The startup has recently closed US$5 million in series A funding and plans to enter Southeast Asia.

Funding details

• Funding amount: $5,000,000
• Other investors: Champel Capital, Mobilitech Capital, Earth Venture Capital
• Stage: Series A
• Source

The Asian Development Bank estimates that traffic congestion in Southeast Asian cities costs the region approximately $100 billion a year, with commuters in Manila and Bangkok spending an average of 66 minutes and 72 minutes in traffic per day, respectively.

The startup has already installed its system in the US, Brazil, Australia, Israel, and Europe, where it manages millions of cars weekly. It claims that its tech has reduced traffic jams by up to 30% without any additional hardware.

See also: Room for venture capital in Vietnam: Impact fund Earth VC

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