Dallas, TEXAS, November 2, 2022 – Railspire, a company that retrofits locomotives for autonomous driving, today announced it has raised $6.1 million in a third seed round.
The proceeds will fund continued productization of the company’s technology and early adopter deployments. A large shortline railroad holding company that intends to be an early adopter customer also invested in this fundraising round.
Railspire is now officially exiting ‘stealth mode’ and activating its broader commercialization strategy. Over the next several weeks and months, Railspire will begin deploying to early adopter customers.
“Now that we have concluded successful field trials and proof of concept demonstrations, we are now launching our commercialization efforts. These are significant accomplishments and a testament to our team of railroading experts,” said Lester Hightower, co-founder and board chairman of Railspire.
Through three seed rounds, Railspire has raised more than $11.5 million since its founding in September 2020. For more information and other Railspire news, visit www.railspire.com.
Railspire retrofits locomotives with artificial intelligence and machine learning software for autonomous driving. The company was founded in 2020 by three railroading experts, two of whom are the world’s preeminent autonomous rail technologists. Railspire’s autonomous locomotive driving technology helps railroads operate with better safety, efficiency and productivity. For more information, visit www.railspire.com.