TEL AVIV, Israel, July 11, 2018 /PRNewswire/ --
Major Automotive Investors Fund Additional Development
- $10 million funding led by 360 Capital Partners and existing investors
- Investment expedites Arbe Robotics' 4D high-resolution imaging radar technology development for level 3, 4, and 5 vehicle autonomy; its customer-facing, U.S. operations expansion; and the opening of its Beijing office to add local support and manufacturing in the Chinese market
Arbe Robotics, the world's first company to demonstrate 4D high-resolution imaging radar, today announced it has raised $10 million in additional capital. The investment will expedite the development of the Company's next-generation imaging radar for the autonomous vehicle industry, the expansion of its customer-facing US operations, and enhanced focus on expanding its presence in the Chinese automotive market. This investment brings Arbe Robotics' total funding to date to $23 million.
"Since our initial funding round, our 4D high resolution radar has reached the resolution of optic sensors with the reliability and maturity of radar technology disrupting the automotive imaging sensor market," said Kobi Marenko, co-founder and CEO of Arbe Robotics. "We are excited by the opportunity this additional funding provides, as we advance our R&D to develop new microchip sets this year and seek to support the entire family of System of Chip (SOCs) radar. This latest investment, combined with our relentless focus on cutting edge technology to provide an unmatched mobility solution, will enable us to broaden our market reach, particularly within the Chinese market."
The $10 million investment was led by 360 Capital Partners, a European venture capital firm with significant investments and experience in the global automotive space. Arbe's existing shareholders – Canaan Partners Israel, iAngels, Maniv Mobility, OurCrowd, O.G. Tech Ventures the VC arm of Eyal Ofer and Taya Ventures – also participated in the funding, illustrating their continued confidence in Arbe Robotics' future development.
"Arbe Robotics' innovative, ultra-high-resolution radar represents a significant step toward the mainstreaming of fully autonomous vehicles," stated François Tison and Alexandre Mordacq of 360 Capital Partners. "We are making significant investments in the autonomous driving space and see tremendous potential in this advanced mobility solution."
Arbe Robotics' proprietary, patented, radar processing method is a full-stack 4D imaging system, which provides a cost-effective, long-range, high-resolution radar solution, providing improved products for level 2 automation at a lower cost, enabling level 3 automation as well as level 4 and 5 fully autonomous driving for the automotive industry. The Company's platform implements two advanced technologies to create a full, comprehensive sensing solution for vehicle autonomy: ultra-high-resolution radar and Simultaneous Localization and Mapping (SLAM).
About Arbe Robotics
Arbe Robotics is the world's first company to demonstrate ultra high-resolution 4D imaging radar with post processing and Simultaneous Localization and Mapping (SLAM). It is disrupting autonomous vehicle sensor development by bridging the gap between radar and optics with its proprietary imaging solution that provides optic sensor resolution with the reliability and maturity of radar technology for all levels of vehicle autonomy. Headquartered in Tel Aviv, Israel, Arbe has business development and customer service locations in China and the United States. The company was founded in 2015 and is backed by 360 Capital Partners, Canaan Partners Israel, iAngels, Maniv Mobility, OurCrowd, O.G. Tech Ventures and Taya Ventures.
For more information, visit www.arberobotics.com.
About 360 Capital Partners
360 Capital Partners is an investment firm focused on multi-stage venture capital, growing companies from seed stage to exit. The firm currently has 300M€ total funds under management, and invests in France, in Italy and across Europe from its offices in Paris, Milan and Berlin. Among its other investments in auto-tech are Navya, Innoviz and Prophesee. For more information, visit www.360capitalpartners.com
SOURCE Arbe Robotics