Arbe Wins Self-Driving Industry 2023 Award from Cars of the Future

PRNewswire 20-Nov-2023 9:00 AM

Arbe's Perception Radar Selected in the Hardware Category

TEL AVIV, Israel, Nov. 20, 2023 /PRNewswire/ -- Arbe Robotics Ltd. (NASDAQ:ARBE), a global leader in Perception Radar Solutions, announced today that Cars of the Future awarded the company the Self-Driving Industry 2023 Award in the hardware category.

Cars of the Future celebrates excellence in connected and automated mobility internationally. Arbe was selected among other winning companies, including: Angoka, Applied EV, Beam, Burges Salmon, CCAV, CMA, Dromos, Fusion, Kodiak, Leddartech, Marsh, OXA, PIX, Reed Mobility, Stagecoach, and Venson.

"We are honored to have been chosen by Cars of the Future for this prestigious award," says Kobi Marenko, Chief Executive Officer at Arbe. "Our perception radar has truly reinvented radar, providing the most advanced capabilities on the market with the goal of providing the technological backdrop for some of the most sophisticated cars of the future."

Arbe's Perception Radar revolutionizes automotive sensing, providing unmatched safety to the market. Distinguished by its ultra-high resolution and top-notch radar image quality, Arbe redefines radar as a sensor, providing advanced perception capabilities at a mass-market price. This groundbreaking technology ensures trustworthy data in all environments, weather, and lighting conditions. It is the first radar to track vulnerable road users such as pedestrians and bicycle riders, detect object boundaries, separate adjacent objects by elevation and azimuth while eliminating false alarms, resolving the factors behind Advanced Driver Assistance Systems (ADAS) related accidents. Arbe's radar technology bridges the sensor gap with the industry's only radar offering accurate Free Space mapping across all driving scenarios, paving the way for genuinely safe hands-free driving experiences.

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 an office in China, Germany and 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. 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.

Information contained on, or that can be accessed through, Arbe's website or any other website is expressly not incorporated by reference into and is not a part of this press release.

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SOURCE Arbe