Sensrad offers radar systems based on the Arbe chipset to
customers within several industry segments, including
infrastructure, heavy machinery, surveillance, and autonomous
mobility.
TEL
AVIV, Israel, April 27,
2023 /PRNewswire/ -- Arbe Robotics Ltd. (Nasdaq:
ARBE) ("Arbe"), a global leader in perception radar solutions,
today announced that Sensrad AB ("Sensrad"), which offers a unique
4D Imaging Radar sensor based on Arbe's chipset, has received a
strategic investment from Gapwaves AB (publ) ("Gapwaves"), as
announced by Gapwaves in a separate release earlier today. Sensrad
is a recent spin-out venture from Qamcom Group AB ("Qamcom").
Qamcom, a strategic tier 1 supplier designing radar systems for
the non-automotive market, has established Sensrad, in Gothenburg Sweden, to be a frontrunner in
advanced imaging radar sensors. Gapwaves stated that by utilizing
the three companies' expertise, Sensrad designs a highly advanced
4D imaging radar sensor based on Gapwaves high-performing waveguide
antenna technology, the industry-leading Arbe chipset, and Sensrads
radar solution. Gapwaves reports that Sensrad is an established
business and has delivered prototype volumes of its Hugin 4D
imaging radar, to customers within several industry segments,
including infrastructure, heavy machinery, surveillance, and
autonomous mobility radar.
Johan Lassing, CEO of Qamcom,
says: "It feels great to have a strong and capable partner like
Gapwaves as it enables the realization of the incredible potential
of our new generation of radars. Gapwaves brings technical
expertise in advanced antennas and front ends, while Sensrad has
extensive experience in radar technology and signal processing,
making it a perfect match. The timing of this partnership is ideal,
given the growing demand for robust, reliable, and high-resolution
sensing technology in a multitude of application fields. By working
together, we can build on Sensrads strong product positioning and
deliver exceptional results."
Gapwaves announced it has entered into an agreement through
which Gapwaves will become owner of 30 percent of the share capital
of Sensrad, previously a fully owned subsidiary of Qamcom. The
total investment amounts to SEK 40
million (Approximately $3.8M).
Through the investment, Gapwaves announced that it addresses
several new and structurally growing end-user markets in 4D imaging
radar utilizing its antenna technology and industrial know-how
outside the traditional automotive market.
Jonas Ehinger, CEO Gapwaves,
says: "Gapwaves investment in Sensrad is an important step towards
a new and stronger value chain position within the radar sensor
market for advanced and autonomous urban mobility and smart city
applications. This move follows Gapwaves long-term strategic plan
and through the investment we will be able to include our products
in Sensrads radar sensor offering and we expect to accelerate
Gapwaves journey to become a technical powerhouse within antenna
and radar technology."
Arbe has introduced a groundbreaking perception radar chipset
that transforms the landscape of automotive safety. It delivers
advanced perception capabilities with exceptional resolution,
top-notch performance, and compatibility with all weather and
lighting conditions. This solution leverages 2,304 virtual RF
channels and powerful processing to provide imaging that is 100
times more detail than other radar solutions available. As a
result, it can protect vulnerable road users such as pedestrians
and cyclists, detect stationary objects, eliminate false alarms,
and avoid and mitigate interference.
"We are thrilled to provide the radar chipsets for Sensrad,"
says Kobi Marenko, CEO at Arbe. "We
believe that the radar systems designed by Sensrad and empowered by
Gapwaves antenna technology will offer unparalleled performance,
enabling true safety and autonomy across a variety of industry
verticals. The potential for radars in infrastructure, surveillance
and mobility verticals is enormous, and we are excited to join this
journey along with our partners Qamcom and Gapwaves."
About Arbe
Arbe (Nasdaq: ARBE), a global leader in Perception Radar Chipset
Solutions, is spearheading a radar revolution, enabling truly safe
driver-assist systems today while paving the way to full
autonomous-driving. Arbe's imaging radar is 100 times more detailed
than any other radar on the market and is a mandatory sensor for
L2+ and higher autonomy. The company is empowering automakers,
tier-1 suppliers, delivery robots, 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 a projected total
addressable market of $11 billion in
2025. Arbe is based in Tel Aviv,
Israel, and has an office in the
United States.
Cautionary Note Regarding Forward-Looking Statements
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. The words "expect," "believe,"
"estimate," "intend," "plan," "anticipate," "project," "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. Statements that are not historical facts,
including any statements that are made at the investor and analyst
event described in this press release, are forward-looking
statements. You should carefully consider risks such as the risks
relating to the market for and incorporation of Arbe's radar
systems in autonomous vehicles, the ability of Arbe to deliver
products that meet the quality and delivery requirements of Sensrad
and other automakers (OEM's), the performance of the Sensrad's
products, the extent of orders for Arbe's chipsets, tier-1
automotive suppliers and the ability of the tier-1 suppliers and
automakers to incorporate Arbe's radar system in vehicles in a
manner to enable the Arbe radar systems to function as intended,
the safe installation of Arbe's radar on autonomous vehicles, the
effect of any present and future government regulations relating to
autonomous vehicles, the ability of the tier-1 and automakers to
maintain the systems on an ongoing basis, and the risk factors and
uncertainties described in "Cautionary Note Regarding
Forward-Looking Statements," "Item 5. Operating and Financial
Review and Prospects'' and Item 3. Key Information –Risk Factors''
Arbe's Annual Report on Form 20-F for the year ended December 31, 2022, which was filed with the
Securities and Exchange Commission on March
22, 2023, as well as the other documents filed by Arbe with
the SEC and any documents which are filed by Arbe prior to this
press release. 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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