M&G gives the green light to NoTraffic with $25 million investment

London, 27 June 2023 – M&G Investments today announces that it has led a $50m Series B funding round for NoTraffic, a pioneering AI-powered road traffic management platform. The investment will enable NoTraffic to accelerate its growth, through increasing production, R&D and sales into new global markets including Japan, Italy, Germany, and the UK.

The demand for transformative mobility solutions has intensified in recent years, as city and town transport authorities seek to alleviate congestion, reduce CO2 emissions and lower fatalities across the road network.

NoTraffic’s AI powered platform works with existing infrastructure to manage traffic flow in real time. Its computing technology brings data from smart sensors at road intersections into a cloud connected network analysing and responding to traffic flows and mobility in any given area instantaneously.

M&G’s investment was made by Catalyst, the firm’s £5 billion purpose-led flexible private assets strategy, which invests in innovative solutions to some of the world’s biggest environmental and social challenges, and its equity investment team, on behalf of the £129 billion Prudential With-Profits fund, which includes the £58 billion PruFund.

Praveg Patil, Deputy Head of Investments (EMEA) at M&G Catalyst comments: “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.”

Tal Kreisler, Co-Founder and CEO of NoTraffic, comments: “What Mobileye did to cars, we are doing to road infrastructure. Not only does our technology reduce traffic congestion and carbon emissions, but it is providing much needed preventative measures against road collisions across the world. This funding is another step in our mission to revolutionise 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.”

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Notes to editors

The Catalyst investment strategy sits within the Private & Alternative Assets division at M&G. With over two decades of experience in private asset investment, M&G manages over £77 billion in private credit, private equity and real estate on behalf of Prudential policyholders and external clients.

Drawing on this expertise and track record in private assets, Catalyst is a global, flexible strategy investing in companies with innovative solutions to some of the world’s biggest environmental and social challenges.

Size of Private and Alternative assets under management (£77 billion), as at 31 December 2022.

OpenAbout M&G Investments

M&G Investments is part of M&G plc, a savings and investment business which was formed in 2017 through the merger of Prudential plc’s UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager. M&G plc listed as an independent company on the London Stock Exchange in October 2019 and has €386.3bn of assets under management (as at 31 December 2022). 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 nearly nine decades M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure and real estate.

M&G recognises the importance of responsible investing and is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and is a member of the Climate Bonds Initiative Partners Programme.

M&G plc has committed to achieve net zero carbon emissions on its total book of assets under management and administration by 2050 and committed to reduce operational carbon emissions as a corporate entity to net zero by 2030.

For more information, please visit: https://global.mandg.com/

OpenAbout 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

This press release reflects the authors’ present opinions reflecting current market conditions; are subject to change without notice; and involve a number of assumptions which may not prove valid. It has been written for informational purposes only and should not be considered as investment advice or as a recommendation of any particular security, strategy or investment product.

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