Knorr-Bremse Boosts Stake In Rail Vision To 36.8% - Quick Facts
(RTTNews) - Knorr-Bremse AG (KNRRY.PK), a provider of braking systems, announced Monday that it has acquired an additional 19.8 percent of Israeli start-up Rail Vision for $10 million, giving it a 36.8 percent stake in the company's share capital.
Rail Vision specializes in sensor technology and obstacle detection based on artificial intelligence and deep learning. Knorr-Bremse and Rail Vision have been partners in the development of object and obstacle detection systems for rail vehicles since March 2019, when it acquired an initial stake.
The strategic follow-on investment forms basis for continued partnership in the development and integration of electro-optic sensor systems including object detection and classification for rail vehicles.
Recently, Knorr-Bremse and Rail Vision announced that they will equip shunting locomotives of the Swiss rail operator SBB Cargo with remote-controlled electro-optic systems for obstacle detection.
After prototype testing is successfully completed at the end of the first quarter of 2021, the partners will examine further business opportunities for integrating these systems into rail freight vehicles.
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