By Josh Beckerman 
 

Rail Vision Ltd., which uses AI-based technology to improve railway safety, filed for an initial public offering on Friday.

The company is an affiliate of Foresight Autonomous Holdings Ltd. and its investors include Knorr-Bremse.

Rail Vision will offer units containing ordinary shares and warrants.

Founded in 2016, the company develops systems "based on image processing technology that provide early warnings to train drivers of hazards on and around the railway track, including during severe weather and in all lighting conditions." The systems use "high-resolution cameras to identify objects up to 2,000 meters away, along with a computer unit that uses AI machine-learning algorithms to analyze the images, identify objects on or near the tracks, and warn the train driver of the obstacle and potential danger."

For the six months ended June 30, the development-stage company generated revenue of $417,000.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

February 18, 2022 13:53 ET (18:53 GMT)

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