KNRRY - Knorr-Bremse increases stakes in Foresight's Rail Vision to 37%

Germany's Knorr-Bremse (KNRRY) makes additional $10M investment in Foresight Autonomous Holdings' (FRSX) affiliate Rail Vision, topping up to its initial investment of $10M in 2019.In addition, Rail Vision has received a conditional call option, to call for an additional $5M under the same investment terms.The investment brings Knorr-Bremse's stakes to 36.79% in Rail Vision; Foresight's holding comes to 19.34% (16.49% on a fully diluted basis).The current investment reflects Rail Vision’s post money valuation of approximately $50M, which is about 1,130% increase to $4.4M valuation at the time of Foresight's initial investment in 2016."We believe that further securing Rail Vision’s finances will strengthen the company’s performance and support its commercialization and market penetration efforts," says Foresight CEO Haim Siboni.

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Knorr-Bremse increases stakes in Foresight's Rail Vision to 37%