Israel-based NoTraffic has raised $50 million in a Series B funding round, while South Korean e-commerce app Alwayz has bagged $46 million in its Series B round.
NoTraffic raises $50m led by M&G Investments
Israel-based traffic management platform NoTraffic has raised $50 million in a Series B funding round, according to a LinkedIn post shared by the company.
M&G Investments led the round, while VNV Global, UMC Capital Grove Ventures, Vektor Partners, Next Gear Ventures, North First Ventures, Meitav Investment House, Alchimia Investments, and TMG participated, according to TechCrunch.
The company plans to use the new capital to transform traffic management, unlock advanced mobility services, and to create safer, cleaner, and more efficient urban environments, NoTraffic co-founder Or Sela wrote in a LinkedIn post.
Founded in 2017, NoTraffic is a platform that transforms any traffic signal into a smart infrastructure capable of understanding the complete traffic picture and responding in real time to all road users, including detection and segmentation of bikes, cars, buses, pedestrians, and emergency vehicles.
DST Global Partners leads Alwayz’s $46m round
South Korean e-commerce shopping app Alwayz has bagged $46 million in a Series B funding round, reported TechCrunch.
DST Global Partners led the funding round, while BOND, KB Investment, Mirae Asset Capital, Korea Investment Partners, GS Ventures, and Klim Ventures participated. The company has raised $67 million till date.
Launched in 2021, Alwayz is an e-commerce platform where customers can shop at a special price through team purchase. The firm claims that the products offered are 20% cheaper than the lowest prices on other platforms.
A large portion of the transaction amount is generated by products from small and medium-sized sellers. The platform is operated by Levit, a software company based in South Korea.