Foresight Took over Rail Vision
18 July, 2018
In December 2017, Rail Vision completed a successful trial of its vision-based system with a leading European railway company
Foresight Autonomous Holdings Ltd. from Ness Ziona, Israe, has increased its ownership in Rail Vision Ltd. and is now the largest shareholder. Foresight exercised $2.24 million of warrants, raising their ownership stake to approximately 35% of issued and outstanding shares and 34% on a fully diluted basis.
Rail Vision develops unique solutions and vision-based systems for advanced safety, asset and fleet management in the rail industry. In December 2017, Rail Vision completed a successful trial of its vision-based system with a leading European railway company. The trial was conducted under harsh winter conditions with minimal light and demonstrated the system’s real-time capabilities to detect and classify obstacles at distances of several hundred meters.
Foresight, founded in 2015, develops quad-camera vision systems and V2X cellular-based solutions for the automotive industry for the Advanced Driver Assistance Systems (ADAS), semi-autonomous and autonomous vehicles. Haim Siboni, CEO of Foresight, said that, like in the automotive space, the next step is to provide trains with sensors and processing capabilities, to prevent accidents. “Rail Vision is a leader in cognitive vision systems and we strongly believe that its capabilities will become the standard in this market.”