TEL AVIV, Israel, Dec. 16, 2019 /PRNewswire/ -- Arbe, the provider of next-generation 4D Imaging Radar Chipset Solution, enabling high-resolution sensing for ADAS and autonomous vehicles, today announced the closing of $32 million in Round B funding from existing, new, and CVC investors Catalyst CEL, BAIC Capital, AI Alliance (Hyundai, Hanwha, SKT), and MissionBlue Capital, and from earlier investors Canaan Partners Israel, iAngels, 360 Capital Partners, O.G. Tech Ventures, and OurCrowd. Arbe will use the funding to move to full production of its breakthrough radar chipset, which generates an image 100 times more detailed than any other solution on the market today.
With the new funding, Arbe will focus on expanding its team to support global Tier-1 customers in moving into full production of radar systems based on Arbe's radar development platform. The delivery of radars based on Arbe's proprietary chipset is a game changer in the automotive industry, as Arbe's technology is the first to enable highly precise sensing in all environment conditions. The unique radar technology produces detailed images; separates, identifies and tracks hundreds of objects in high horizontal and vertical resolution to a long range in a wide field of view; enabling the OEMs to provide all-conditions, uncompromised safety to next generation cars with an affordable sensor for mass market implementation.
"With the funds raised, Arbe will continue to deploy to the market a real breakthrough in radar technology that empowers Tier 1 automakers and OEMs to finally replace their legacy chipsets with one that truly meets the safety requirements of NCAP and ADAS for years ahead," says Arbe CEO Kobi Marenko. "In fact, Arbe provides an affordable sensor for mass market implementation that enables Level 3 autonomy without requiring LiDAR. Our technology is the essential component in achieving a fully autonomous vehicle that drives in every environment and weather condition."
The technology developed by Arbe resolves some of today's most pressing radar challenges, which include eliminating false alarms, processing massive amounts of information generated by 4D imaging in real time, and mitigating mutual radar interference. By achieving high-resolution object separation in both azimuth and elevation, Arbe supports safer and more accurate decisions for all levels of autonomous driving.
According to Yair Shamir, Managing Partner of Catalyst CEL Fund, Arbe stands alone in its ability to provide ADAS and autonomous vehicles with high-resolution 4D imaging radar technology. "Arbe's revolutionary technology and its highly skilled team have made impressive strides in the industry. We are very pleased to support their progress, and we foresee an exciting market opportunity ahead."
Arbe is a provider of next-generation 4D Imaging Radar Chipset Solution, enabling high-resolution sensing for ADAS and autonomous vehicles. Arbe's technology produces detailed images, separates, identifies, and tracks objects in high resolution in both azimuth and elevation in a long range and a wide field of view, and complemented by AI-based post-processing and SLAM (simultaneous localization and mapping). Arbe's patented technology empowers automakers and Tier 1 companies in development of a next-generation radar that is 100 times more detailed than any other radar on the market, capable of operating in any weather or lighting environment. Founded in 2015 by an elite team of semiconductor engineers, radar specialists, and data scientists, Arbe has secured $55 million from leading investors, including Canaan Partners Israel, iAngels, 360 Capital Partners, O.G. Tech Ventures, Catalyst CEL, AI Alliance, BAIC Capital, MissionBlue Capital, and OurCrowd. Arbe is based in Tel Aviv, Israel, and has offices in the United States and China.