Arbe Robotics Ltd. (NASDAQ: ARBE) saw its shares lose ground Monday, despite word 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 CEO Kobi Marenko. “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.
ARBE shares dropped six cents, or 3%, to $1.94.