German braking and onboard systems manufacturer Knorr-Bremse Systeme für Schienenfahrzeuge GmbH has agreed to inject $10 million in Israeli railway safety device maker Rail Vision for a 21.3 percent share in the company.
Knorr-Bremse, an affiliate of Knorr-Bremse AG, has also been issued warrants to buy additional shares in Rail Vision and to maintain about 20 percent share on a fully diluted basis against a commitment of up to a further $3.6 million.
The partnership with Rail Vision will allow Knorr-Bremse to take a further step to provide system solutions for automated driving in the railway sector by integrating Rail Vision’s obstacle detection capabilities into Knorr-Bremse’s future automatic train operation product offering.
The current commitment reflects Rail Vision’s post-money valuation of around $47 million.