Arbe has raised US$32 million to launch a high-resolution radar for autonomous vehicles
A startup from Tel Aviv, called Arbe, has created a breakthrough technology in the automotive industry - a set of high-resolution radars. They are designed to improve the car's driver assistance system and will help this system with object detection and identification. The capabilities of the chipset are significantly superior to those already available on the market. The new development is capable of identifying hundreds of objects over long distances, and also reproduces 100 times more detailed resolution than other devices. On the basis of the received permissions the system makes a map of the surrounding objects.
Thanks to funding from a number of large organizations, the company has the opportunity to launch mass production of its development, Arbe said on Monday. Among the new investors were: BAIC Capital, Catalyst CEL, MissionBlue Capital and AI Alliance, a joint venture fund that includes Hyundai, SK Telecom and Hanwha Asset Management. Existing investors Canaan Partners Israel, iAngels, 360 Capital Partners, O.G. Tech Ventures and OurCrowd. In total, the company raised US$32 million.
The raised funds will be spent by Arbe not only to expand production, but also to attract new employees. In addition, in 2020 it is planned to launch mass production of another development - radar systems.
"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," Marenko said in a statement.
He also noted that the company already has five Tier 1 customers, two of them from China and three from Europe, according to TechCrunch. The names of suppliers were not disclosed by Marenko.
The new development will greatly facilitate the work of the driver assistance system, as it will solve a number of problems associated with erroneous recognition of objects. The Arbe chipset is designed to process a huge amount of information, which turns into 4D images that are displayed in real time. All this will allow the system to make accurate decisions and avoid erroneous reactions to objects.
There will be no need to use lidar, or light detection and ranging radar and will automate the 3rd level of cars. Marenko is absolutely certain of this.