The Israeli Rail Vision signed a $10 million funding agreement with the German company Knorr-Bremse. The investment will be made at a company value of about $50 million, post-money valuation. This is a follow-on investment, arriving after an investment of $10 million made by the German company in March 2019. After the two investments, it will hold 36.79% of Rail Vision’s shares. The holdings of Foresight, which founded Rail Vision, will amount to 19.34%.
In addition, the agreement provides Real Vision with an option to call for an additional $5 million. Trains have difficulties dealing with unexpected obstacles because the braking distance of a high-speed moving train can reach up to half a mile on average, and so there is a need for a system that detects obstacles from a very long distance. Rail Vision has developed an early warning system that warns the locomotive driver of a potential collision with obstacles in all weather and lighting conditions. This is done using dedicated cameras that detect objects from a distance of slightly more than one mile (1.2 miles).
The camera array (pictured above) includes a visible light camera and two thermal cameras with complementary wavelengths. These in turn feed the information into an image processing and machine learning algorithm, which fuses all the information into a unified image and identifies the objects located on the train track. The algorithm is designed to identify objects relevant to the train’s setting, such as humans, animals, cars, bridges, interchanges, signs, signal marks along the track intended for the locomotive driver, etc.
Knorr’s investment is a strategic investment related to one of its key areas of activity. Its systems division manufactures braking, steering and control systems for trains and commercial vehicles. For the past 100 years, the parent company has been supplying driver assistance and braking systems for vehicles and trains. In 2019, its sales totaled about 6.6 billion euros.