December 16, 2019 / 7:05 PM / 2 months ago

Israeli radar technology provider Arbe raises $32 million

TEL AVIV (Reuters) - Arbe, an Israeli provider of radar sensing technology for driver safety and autonomous vehicles, said on Monday it raised $32 million in private funding round, bringing to $55 million the total it has raised to date.

Catalyst CEL, BAIC Capital, AI Alliance that includes Hyundai and MissionBlue Capital, and earlier investors Canaan Partners Israel, iAngels, 360 Capital Partners, O.G. Tech Ventures, and OurCrowd participated in the round.

Arbe said it will use the funding to move to full production of its radar chipset.

The company said its radar technology enables highly precise sensing in all environment conditions.

“Arbe provides an affordable sensor for mass market implementation that enables Level 3 autonomy without requiring lidar,” Arbe CEO Kobi Marenko said.

Autonomy, without relying on the expensive laser detection system known as lidar, has become a quest for the industry.

Reporting by Tova Cohen; Editing by Ari Rabinovitch

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