Arbe Robotics, an Israeli startup that offers a 4D Radar solution for automobiles, is the latest Israeli company to declare its intention to “jump ship” and divest from its own country in protest of the government’s policies. Specifically, the judicial reforms that Benjamin Netanyahu wishes to pass that Israel’s opposition says will harm the country’s democracy. Some experts have said it will cause a drop in foreign investments since the world would lose confidence in Israel’s stability.
It is the last point that is the motivation here. Arbe Robotics CEO Kobi Marenko told Calcalist as much saying, “The implications of the legal reform worry me first of all as a citizen but also as a manager. They could lead to a downgrading of the credit rating and a very serious damage to the Israeli economy. I believe that in a period like this every CEO should be responsible for keeping 50% of the company’s cash balances abroad in order to be prepared for every scenario.”
Prime Minister Benjamin Netanyahu’s government’s proposed judicial reforms. The reforms would greatly limit the authority of Israel’s Supreme Court and its attorney general, leading the country’s opposition leaders to accuse Netanyahu of moving to harm Israel’s democracy. This has led to many, including the governor of the Bank of Israel, to say that the reforms could harm Israel’s economy.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at firstname.lastname@example.org.
Speculation abounds that should the planned reforms go through then the world – i.e. investors – would lose confidence in Israel and so investments in its high-tech sector would dry up.
Just the other day Wiz, an Israeli cloud security startup and a unicorn, was reported to be taking its money out of Israeli banks. And just a week ago Israeli startup Papaya Global, a fintech unicorn that offers a cloud based platform for companies to handle their payrolls, decided to divest itself of Israeli banks due to the judicial reform plan proposed by Benjamin Netanyahu’s government. That move came after the Governor of the Bank of Israel himself warned Netanyahu that the plan could harm foreign investment in Israel since it would weaken Israel’s democratic system.
Founded in 2015 by CEO Kobi Marenko, CTO Dr. Noam Arkind and COO Oz Fixman, Arbe Robotic offers driver-assist systems and develops 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, says the company, 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 also declares that its 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.