Official Press Release
Arbe Robotics raises a $9 million round led by Eyal Ofer’s O.G. Tech Ventures and OurCrowd to invest in the full production of its ultra-high resolution radar for autonomous cars and open the company’s first customer support center in Silicon Valley
TEL AVIV – November 2017 – Arbe Robotics, the first company in the world to demonstrate ultra high resolution radar, is announcing the completion of a $9 million funding round to bring the company’s high-resolution radar system into full production, and enable its technology to be installed in autonomous cars within the upcoming year.
High resolution radar gives autonomous cars the ability to sense, or “see”, their surroundings. Since radar is the only sensor that can reach high range in any weather, reflection and lighting conditions, it’s key for Level 3 automation (Conditional Driving Automation) and for full autonomous driving. However, radar faces two main problems today: low resolution and high false alarm rates, and Arbe’s patented technology solves them both.
The funding round was led by Eyal Ofer’s O.G. Tech Ventures, a recently-launched $100 million venture capital fund that focuses on early growth Israeli startups with disruptive technologies, and OurCrowd, an equity crowdfunding platform for early-stage startups. Arbe’s existing shareholders, Canaan Partners, iAngels, and Taya Ventures, also participated in the funding round. The funds raised will also be used to open Arbe’s first customer service and support center, based in Silicon Valley and opening in January, to increase accessibility and availability for future car owners.
Arbe’s proprietary radar patented processing method is a full stack 4D imaging system that provides a cost effective, long range, high resolution radar solution for the automotive industry. Arbe’s platform implements two advanced technologies to create a full, comprehensive solution for autonomous cars:
“We’re proud and honored by how far Arbe has come,” says Kobi Marenko, Founder and CEO of Arbe Robotics. “We’ve had some incredible partners during our funding journey, and we’re excited to be a part of the movement that’s bringing Level 3 automation to the future of vehicles.”
About Arbe Robotics:
Arbe Robotics was founded in November 2015 by three cofounders, Kobi Marenko (CEO), Noam Arkind (CTO), and Oz Fixman (COO). Arbe started out by creating a complete collision avoidance system for drones, before transitioning its trusted technology to autonomous cars and creating an imaging radar system as the base for autonomous drive. Arbe Robotics has received funding from Canaan and Partners, iAngels and Taya.
About O.G. Tech Ventures:
Launched in May 2017, O.G. Tech Ventures is a $100M VC and the tech investment arm of Eyal Ofer’s Ofer Global group. It invests in the most exciting, early-growth stage startups either by leading investments or by co-investing alongside other professional investors. It has a full-time team on the ground in Israel led by a Managing Partner with over 15 years’ experience and success in the tech sector and venture capital investments. With a single LP structure and a dedicated fund, it is committed to being a unique VC – combining long term investment perspective, leading cross-sector expertise and far-reaching global networks with a transparent process and a personal, agile, flexible approach to investments.
Kobi Marenko - Co-Founder and CEO
Noam Arkind - Co-Founder and CTO
Oz Fizman - Co-Founder and COO