Shahar Hania on capital raise
From RedChip Investor Group Call with Rail Vision (NASDAQ: RVSN) · · RedChip Companies
“It is quite clear that we're gonna need another round and we are planning [a funding], we expect that just like the other rounds will be backed up, supported by Knorr-Bremse.”
On , Shahar Hania, CEO at Rail Vision, spoke about capital raise during RedChip Investor Group Call with Rail Vision (NASDAQ: RVSN) on RedChip Companies.
About Shahar Hania
Shahar Hania, CEO and co-founder of Rail Vision, discussed the company's technology and market position in investor calls in April 2023. He stated that Rail Vision's obstacle detection system can classify objects up to two kilometers away, compared to a train driver's visibility of 300–400 meters in daylight, and argued that this makes the system necessary for preventing accidents. Hania cited a derailment in Minnesota as an example of an incident he said could have been avoided with Rail Vision's technology. He also noted that the company had completed a long-term pilot with Hitachi for Rio Tinto in Australia and signed a contract with Israel Railways. Hania said Rail Vision is the only company to have "broken the glass ceiling" of entering the railway obstacle detection market through homologation. He acknowledged that the company would need another funding round and expected it to be supported by Knorr-Bremse, as previous rounds had been. Hania reported that Rail Vision's capital investment to date was about $63 million, with a cash balance of approximately $10.4 million as of September 2022. He told investors that "a half a year ago, one year ago it will probably be the last time that you'll be able to invest in Rail Vision at this evaluation."