M&G invests $35 million in driverless car revolution through radar technology company Arbe Robotics

The equity investment team at M&G plc has participated in the proposed listing of Arbe Robotics Ltd (“Arbe”), a leading provider of next-generation 4D Imaging Radar solutions.

Founded in 2015, Arbe is paving the way to full autonomous-driving by introducing the world’s first ultra-high resolution 4D Imaging Radar. Manufacturers in the automotive industry are currently designing their next generation radars based on Arbe’s groundbreaking technology, which is also empowering advanced sensing for an array of additional applications including robotaxis, delivery pods, commercial and industrial vehicles, and more.

The beneficiaries of this investment are customers in the £143 billion Prudential With-Profits Fund, which includes PruFund. As the UK’s largest With-Profits fund, it offers investors access to a wide range of assets, across different asset types and countries, creating a diversified portfolio which spreads the risk of investment.

The investment was led by the Asia Pacific equity team that was brought into M&G in September 2019. The team has been following technological developments in the space for more than a decade.

Jack Daniels, Chief Investment Officer, M&G plc, says: “The trend towards autonomy is global and seems set to transform many of the world’s largest markets, particularly in the automotive industry. Leading-edge sensing technology is paramount to this shift and Arbe’s innovation is a significant leap forward in both the performance and affordability of long-range imaging radar.”

Kobi Marenko, Chief Executive Officer of Arbe, said, “This listing will allow us to bring our vision to reality, creating an autonomous future driven by outstanding, truly safe, commercially viable 4D Imaging technology. Our technology will provide safety to drivers as well as vulnerable road users like pedestrians and cyclists.”

Size of the With-Profits Fund is £143 billion, as at 31 December 2020

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Notes to editors

OpenAbout M&G plc

M&G plc is an international savings and investments business, managing money for both individual savers and institutional investors in 28 markets. As at 31 December 2020, we had £367 billion of assets under management and administration, around 5 million retail customers and more than 800 institutional clients.

With a heritage dating back more than 170 years, M&G plc has a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. We serve our savings and insurance customers under the Prudential brand in the UK and Europe and for asset management in South Africa, and under the M&G Investments brand for asset management clients globally.

M&G has committed to achieve net zero carbon emissions on its total book of assets under management and administration by 2050 and committed to reduce operational carbon emissions as a corporate entity to net zero by 2030.

OpenAbout Arbe Robotics Ltd (“Arbe”)

Arbe, a provider of 4D Imaging Radar solutions, is leading a radar revolution, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. Arbe is empowering automakers, tier-1 companies, autonomous ground vehicles, commercial and industrial vehicles, and a wide array of safety applications with next-generation sensing and paradigm-changing perception.

Arbe’s Imaging Radar is an order of magnitude more detailed than any other radar on the market and is a mandatory sensor for L2+ and higher autonomy. Arbe’s solution includes an RF chipset with the largest channel array in the industry, a groundbreaking radar processor chip, and AI-based post-processing. Founded in 2015, Arbe has offices in Israel and the United States.

OpenDisclaimer

This press release reflects the authors’ present opinions reflecting current market conditions; are subject to change without notice; and involve a number of assumptions which may not prove valid. It has been written for informational purposes only and should not be considered as investment advice or as a recommendation of any particular security, strategy or investment product. Past performance is not a guide to future performance.

Information given in this document has been obtained from, or based upon, sources believed by us to be reliable and accurate although M&G does not accept liability for the accuracy of the contents.

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