Israeli Railway Safety System Developer Rail Vision Raises $10 Million
CTech – Railway safety system developer Rail Vision has raised $10 million in a round led by German automotive manufacturer Knorr-Bremse AG, according to one person familiar with the matter who spoke to Calcalist on condition of anonymity.
Knorr-Bremse AG has yet to respond to a request for comment.
Founded in 2015 by four former employees of Israel-based arms manufacturers Rafael Advanced Defense Systems and Elbit Systems, Rail Vision develops an automated early warning system (AEWS) for locomotives. When mounted on a train, the company’s thermal sensor can identify hazards at a distance of up to two miles under different weather and lighting conditions, alerting both the train’s staff and the command and control center. The company employs 40 people in its offices in Ra’anana, a town north of Tel Aviv.
Rail Vision’s existing shareholders include Tel Aviv-listed advanced driver assistance systems company Foresight Autonomous Holdings (40 percent) and Israel Railways corporation.
Foresight declined to comment.