Israel’s Arbe Robotics Develops 4D Imaging Radar Technology Hits $722 Million Valuation with Merger
The merger is part of its planned NASDAQ IPO.
Arbe Robotics, an Israeli startup, offers a unique 4D Radar solution. The company has sealed a Business Combination agreement with American SPAC Industrial Tech Acquisitions, Inc. (NASDAQ: ITAC), ahead of a NASDAQ IPO. The new company is valued at $723 million and will operate under the “Arbe Robotics Ltd.” name and the “ARBE” ticker symbol.
The transaction is expected to provide up to approximately $177 million in gross cash proceeds, comprised of Industrial Tech’s approximately $77 million cash-in-trust (assuming no redemptions by Industrial Tech public shareholders), and a $100 million PIPE investment valued at $10.00 per share.
Founded in 2015 by CEO Kobi Marenko, CTO Dr. Noam Arkind and COO Oz Fixman , it has raised $55 million to date. Arbe offers safe driver-assist systems while developing fully-automated driving tech. Arbe boasts that it delivers the first and only available long-range, 4D Imaging Radar, with industry leading performance and an unparalleled cost advantage. Its 4D Imaging Radar is suitable for every level of vehicle autonomy, and is a vital sensor for Level 2+ and higher, with significantly superior resolution to other competing radar solutions.
Arbe’s proprietary chipset has the largest channel array count in the industry with 48 receiving and 48 transmitting RF channels, a dedicated processor chip, and AI-based post-processing. The production-ready and affordable 4D Imaging Radar chipset solution, executes in the most challenging corner cases and is dependable in practically all environmental conditions.
See an explanation of the Arbe tech here:
Kobe Marenko said, “We expect that the proposed combination of Arbe and Industrial Tech will allow us to bring our vision to reality, creating an autonomous future driven by outstanding, truly safe, commercially viable 4D Imaging technology. We are extremely excited by the opportunity to partner with ITAC, and we expect that ITAC’s significant experience in building and investing in disruptive technology companies will help bring our groundbreaking technology to a broader market.”