77MICHELLE KENNEDYNOTRAFFIC
SMARTER STREETS
NoTrafi c wants to change a century-
old technology: trafi c lights. Its system
uses AI and cloud- connected radar to
improve the ow of cars, buses, bikers,
and pedestrians at urban intersections.
Already operating in Arizona and California,
NoTrafi c raised $17.5 million last July
to help it expand into Europe and Asia.
Its tech can cut wait times in half, trim
carbon emissions, and reduce the number
of cars running red lights. Another goal?
“Letting people spend a few more minutes
every day with their loved ones ... or get
home in a safer way,” says co-founder and
CEO Tal Kreisler.—Kyla MandelGRAMMARLY
WRITING
WITH CLARITY
More than 30 million people use
Grammarly daily to improve their written
communications. The AI-powered
tools not only help with spelling and
grammar, but also improve writing quality,
consistency, clarity, and ef ciency. The
software seamlessly integrates with
internet browsers, Microsoft Of ce, and,
most recently, desktops, enabling users
to communicate con dently no matter
where they’re writing. “Grammarly
is pioneering the future of AI-driven
communication at a time when it’s never
been more critical—or challenging—
to get communication right,” says
CEO Brad Hoover. The company
became one of the top 10 most valuable
U.S. startups last year after closing
a $200 million nancing round at a
$13 billion valuation. —J.L.KLARNA
PURCHASING POWER
A few years ago, only a
handful of online stores
would have listed Klarna
as a payment option.
Today, the buy-now-pay-
later company is a fixture
alongside digital- payment
titans like Mastercard—
and itself a giant, valued
at $45.6 billion. Over
the past year, it has
extended its reach to
45 countries, launched
a physical Visa card in
the U.S., and increased
net operating income by
38% to $1.6 billion. The
U.S. Consumer Financial
Protection Bureau,
however, is probing
Klarna and similar firms
over concerns about
consumer debt; the
company is cooperating.
—Eloise BarryCLIMEWORKS
CAPTURING CARBON
On a grassy plain in Iceland in September,
a gigantic machine began sucking carbon
dioxide out of the atmosphere. The proj-
ect, built by Swiss company Climeworks,
is the world’s largest direct-air carbon-
capture plant—though it traps only about
4,000 tons of CO 2 per year, equivalent to
the yearly emissions of about 850 cars.
Some experts say carbon- removal tech-
nology, still in its infancy, distracts from
proven solutions. But others, including
Climeworks co-director and co-founder
Jan Wurzbacher, argue it can help reduce
warming. —Alejandro de la GarzaPEANUTA community
for women
When Michelle Ken-
nedy was expect-
ing her first child, she
couldn’t find the support
she needed via online
searches and Facebook
groups. So she created
Peanut, a social network
now boasting 2.5 million
users and a nearly triple
growth in daily active
users over the last year,
which offers a space for
women to learn from one
another. First intended
for expecting mothers
like Kennedy, Peanut
now has groups catering
to women across all life
stages—including, most
recently, those going
through menopause.
“Ultimately, I want three
women all in the same
family, each in a differ-
ent generation, to use
Peanut and have a rea-
son to be there,” says the
CEO. —Mariah EspadaMODERNA
IMPROVING ACCESS
Biotech rm Moderna recently announced
that it would never enforce the patent
on its COVID-19 vaccine in 92 countries
currently receiving the shots through
a global program. It’s the rst major
pharmaceutical company to announce
such a move, which critics say came later
than it should have and which opens the
door to wide-scale global production.
Under CEO Stéphane Bancel, Moderna
is also developing mRNA vaccines
targeting 15 pathogens that are more
common in the developing world, as well
as longtime public-health threats such
as inl uenza and RSV. —Alice ParkCLIMEWORKS: MEINRAD SCHADE—LAIF/REDUX; PEANUT: RACHEL MURRAY—
BLOOMINGDALE’S CENTURY CITY/GETTY IMAGES