Israeli autotech company Arbe Robotics, which has developed a high-resolution radar sensor for autonomous vehicles, has closed a $10 million funding round. The funds are earmarked for accelerating development of the next generation of radar imaging chip for the autonomous vehicle industry, expansion of the company's business with a US customer, and promoting its products in the Chinese vehicle market.
The current round brings the total invested in Arbe Robotics to $23 million. CEO Kobi Marenko said, "Since our first funding round, we have developed a vehicle radar with a resolution as high as that of optical sensors, but with the level of reliability and stability of traditional radar technology. This further funding round enables us to boost our R&D substantially, and to complete development of further radar chips this year, including system-on-a-chip radar."
The funding round was led by 360 Capital Partners, a European venture capital fund with experience in the global vehicles market. Among the company's existing investors are Canaan Partners, Taya Ventures, OurCrowd, iAngels, and Eyal Ofer's OG Tech Ventures, all of which also participated in the current round.
Arbe Robotics' patented system provides full mapping in four dimensions (distance, azimuth, elevation, and Doppler speed), and high resolution and long range, at an accessible price. The system facilitates autonomous driving at all levels, from driver support (ADAS), to fully autonomous, driverless travel.
Published by Globes [online], Israel business news - www.globes-online.com - on July 12, 2018
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