Business
Arbe Tier-1 Sensrad Announces Signing a Framework Agreement to Provide 4D Imaging Radars to Tianyi Transportation Technology
Sensrad Values Its Agreement at an Estimated 7M Euros, with Deliveries Expected to Begin in the Third Quarter of 2024 TEL AVIV, Israel, Sept. 4, 2024
About this update from Arbe Robotics Ltd.
[{"type":"text","content":"Sensrad Values Its Agreement at an Estimated 7M Euros, with Deliveries Expected to Begin in the Third Quarter of 2024\nTEL AVIV, Israel, Sept. 4, 2024 /PRNewswire/ -- Arbe Robotics Ltd. (NASDAQ: ARBE) (TASE: ARBE) a global leader in Perception Radar Solutions, announced today that its tier-1, Sensrad, has signed a framework agreement to provide 4D Imaging Radars powered by Arbe's chipset to China-based Tianyi Transportation Technology, according to an announcement from Sensrad. Sensrad values the agreement at an estimated 7M Euros, with deliveries expected to begin in the third quarter of 2024.\n\nThe agreement follows an extensive, year-long evaluation and implementation process of Sensrad's 4D Imaging Radar, which utilizes Arbe's advanced chipset technology. \"After 12 intense months of development, we are pleased to enter into this volume contract, and as it is our first commercial contract, it is a major milestone for Sensrad,\" says Marcus Hasselblad, CEO of Sensrad. \"I am proud of what the team at Sensrad has achieved in such short time. I also want to thank Tianyi for their trust in us and in our product, and we look forward to a long lasting, fruitful and growing cooperation.\"\nIn 2024, Sensrad has reported multiple customer engagements for its 4D Imaging Radar, which is based on the Arbe chipset and Gapwaves' proprietary waveguide antenna technology.\n\"Congratulations to Sensrad on this significant achievement,\" said Kobi Marenko, CEO of Arbe. \"This agreement is a clear demonstration of the market's recognition of the superior performance and reliability of Arbe's 4D imaging radar technology. The growing opportunities in China reinforce our vision to transform perception capabilities globally. We are excited to support Sensrad in delivering unparalleled radar solutions to Tianyi and driving innovation forward in key markets.\"\nAbout Arbe\nArbe (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 saf...