Arbe Robotics Secures Major Radar System Order from AutoX

Arbe Robotics, an Israeli startup specializing in ultra-high resolution radar technology, has announced a significant new client. The company, based in Tel Aviv, will supply 400,000 radar systems to AutoX, a leading Chinese autonomous driving company.

Addressing Critical Safety Concerns in Autonomous Vehicles

According to a joint statement, Arbe’s radar platform is designed to resolve key challenges contributing to recent accidents involving autonomous vehicles. These include accurate identification of vulnerable road users, such as pedestrians and cyclists, and reliable detection of stationary obstacles.

The system also aims to minimize false alarms stemming from ambiguities within radar imagery.

Proprietary Technology for Enhanced Detail

Arbe’s technology utilizes a unique 2K-resolution imaging capability, operating at 30 frames per second. This provides a level of detail that the company claims is 100 times greater than that of any other radar system currently available on the market.

Expanding Partnerships and Future Growth

Kobi Marenko, CEO of Arbe, revealed in a recent webcast that the company already collaborates with five Tier 1 automotive suppliers and technology giant Nvidia.

Furthermore, Arbe has secured two additional purchase orders – one from an undisclosed delivery robot company and another from a major global automotive manufacturer.

AutoX: A Pioneer in Autonomous Driving

AutoX has established itself as a frontrunner in the deployment of autonomous vehicles within China. Backed by investors including Alibaba, Shanghai Motors, and MediaTek, the company achieved a milestone by conducting the first AV tests on public roads in China without safety drivers.

These tests took place in Shenzhen, a major Chinese city and AutoX’s headquarters.

AutoX also launched its RoboTaxi service in Shanghai and received permission to begin driverless testing in California, joining Waymo and Nuro as the only companies with such authorization.

Going Public and Financial Projections

The announcement of this partnership follows Arbe’s recent decision to become a publicly traded company through a merger with Industrial Tech Acquisitions, a special purpose acquisition company.

This move values the company at $722 million in equity, supported by a $100 million private investment from firms like M&G Investment Management, Varana Capital, Texas Ventures, and Eyal Waldman.

Significant Revenue Growth Anticipated

While Arbe projects revenue of $7 million for 2021, CEO Marenko anticipates substantial growth. He forecasts exceeding $300 million in revenue by 2025, representing a remarkable 4,185% increase over four years.

This projection underscores investor confidence in the company’s innovative radar technology.