Automotive technology innovator Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) this morning announced that it has increased its stake in RailVision Ltd. by exercising warrants into 2,704 ordinary RailVision shares for an aggregate of $0.6 million. The move follows last September’s InnoTrans International Trade Fair for Transport Technology in Berlin, where RailVision demonstrated substantial commercial and technological progress. As a result of the exercise, Foresight now holds 36.33 percent of RailVision’s issued and outstanding share capital, of which 33.78 percent is on a fully diluted basis.
RailVision, a leading provider of cutting-edge safety systems and cognitive vision sensor technology for the railway industry, presented its add-on big data module concept at the InnoTrans Fair. The technology enables customized analysis of rail infrastructure and surrounding systems, both in real-time and offline settings. The concept is designed to digitally map relevant areas, enabling analysis of infrastructure, behavioral and environmental trends. Additionally, the module, through the generation of comprehensive reporting, supports condition monitoring and predictive maintenance of infrastructure.
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About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings Ltd., founded in 2015, is a technology company engaged in the design, development and commercialization of stereo/quad-camera vision systems and V2X cellular based solutions for the automotive industry. Foresight’s vision systems are based on 3D video analysis, advanced algorithms for image processing and sensor fusion. The company, through its wholly owned subsidiary Foresight Automotive Ltd., develops advanced systems for accident prevention, which are designed to provide real-time information about the vehicle’s surroundings while in motion. The systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. The company’s systems are targeting the Advanced Driver Assistance Systems (ADAS), semi-autonomous and autonomous vehicle markets. The company predicts that its systems will revolutionize automotive safety by providing an automotive grade, cost-effective platform, and advanced technology. For more information, visit the company’s website at www.ForesightAuto.com
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