Arbe Celebrates Milestone Achievements as Sensrad Announces Major Customer Orders for Revolutionary Radar Technology
TEL AVIV, Israel, January 18, 2024 - Arbe Robotics Ltd. (NASDAQ: ARBE), a global leader in Perception Radar Solutions, announced today that its tier 1, Sensrad AB, reported significant customer orders for radar systems leveraging Arbe’s chipset. The recent orders from global companies underscore the market's recognition of the transformative impact of Arbe's radar chipset technology, integrated into Sensrad's Hugin Imaging Radar systems.
Sensrad announced that its Hugin 4D Imaging Radar, leveraging Arbe's cutting-edge high-resolution radar chipset and Gapwaves' proprietary waveguide antenna technology, offers highly advanced perception capabilities in harsh environments for robotized and autonomous vehicles, supporting any off-road, on-road transportation and aerial applications.
Key highlights of the Sensrad announcement of its customer orders include:
- An order from an American autonomous transportation global manufacturer.
- A follow-up order from a robotized professional outdoor power equipment pioneer.
- A follow-up order from a key player in the transportation sector.
- Several orders from Sensrad’s Chinese affiliates, whose customers are found in a range of industries, spanning from autonomous robotics and transportation to Intelligent Transportation Systems (ITS) and Intelligent Traffic Management Systems (ITMS).
“The recent success demonstrates that Arbe based cutting-edge radar solutions are gaining traction among industry leaders seeking state-of-the-art sensing technology,” says Kobi Marenko, Chief Executive Officer at Arbe. “The customer wins signify a shared commitment to excellence and innovation in the pursuit of advancing vehicle safety and autonomy. We congratulate Sensrad on these remarkable achievements and look forward to continued success in our collaborative efforts.”
For more information on Sensrad's recent customer orders please visit Sensrad's official announcement: https://www.sensrad.com/news/global-leading-companies-placing-orders-with-sensrad
About Arbe
Arbe (Nasdaq: ARBE), a global leader in Perception Radar Solutions, is spearheading a radar revolution, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. Arbe’s radar technology is 100 times more detailed than any other radar on the market and is a critical sensor for L2+ and higher autonomy. The company is empowering automakers, Tier-1 suppliers, autonomous ground vehicles, commercial and industrial vehicles, and a wide array of safety applications with advanced sensing and paradigm changing perception. Arbe is a leader in the fast-growing automotive radar market that has an estimated projected total addressable market of $11 billion in 2025. Arbe is based in Tel Aviv, Israel, and has offices in China, Germany and the United States.
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This press release may contain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the Company’s expectations regarding the closing of the offering and timing thereof, and the expected gross proceeds of the offering. These statements, and other statements including the words “expect,” “believe,” “estimate,” “intend,” “plan,” “anticipate,” “may,” “should,” “strategy,” “future,” “will,” “project,” “potential” and similar expressions indicate forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties, including the risk and uncertainties resulting from the October 7th attack upon Israel, conflicts and potential conflicts involving Israel, as well as market acceptance of Arbe’s radar processor and Arbe’s radar processor performing in the manner which Arbe anticipates, and other risks described in "Cautionary Note Regarding Forward-Looking Statements," "Item 5. Operating and Financial Review and Prospects" and "Item 3. Key Information –Risk Factors" Amendment No. 2 to Arbe's Annual Report on Form 20-F/A for the year ended December 31, 2022, which was filed with the Securities and Exchange Commission on May 16, 2023, as well as other documents filed by Arbe with the SEC. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and Arbe does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
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Released January 18, 2024
