$22.4M cash. Binding MOU with Indian Railways via Sujan Ventures. $335K follow-on mining order from Latin America. R&D at $3.24M in H1 2025; building the technology while revenue timing fluctuates. The MainLine system has been deployed in real rail environments.
Rail Vision built a camera system with AI that watches the tracks ahead of a train and spots obstacles; people, cars, animals, debris; before the train driver can see them. Trains take over a mile to stop. By the time a human sees something on the tracks, it is usually too late. This system sees it earlier and gives the driver more time to brake. Indian Railways, one of the largest rail networks in the world, signed a binding agreement to deploy it. A mining company in Latin America ordered more units after testing the first batch, which means the first deployment worked. The company has $22.4M in cash and barely any revenue yet because railway procurement takes years. The cash covers the wait.
Watch for the Indian Railways MOU to convert into a deployment contract with specific scope and timeline. A signed deployment contract would be the inflection point that transforms Rail Vision from a company with strong references into a company with committed revenue. Also monitor follow-on orders from the existing mining and industrial rail customers; each follow-on is a proof point that the MainLine system works in production conditions.