Granatus Ventures has made an investment in Waveye, an emerging, high-potential startup

05 May 2024

Granatus Ventures, furthering its commitment to support the Armenian startup ecosystem, has made an investment in Waveye, an emerging, high-potential startup.

Waveye is developing lightweight, high-resolution imaging radars that target automotive, robotics and industrial applications. Waveye’s imaging radars use a novel operating principle to obtain ultra-high resolution radar imaging, coupled with deeply-integrated radar AI algorithms.

The company is founded by Levon Budagyan, Gor Hakobyan and Narek Rostomyan. Levon is leading the company as its CEO and has extensive experience in AI/ML and software development, having previously founded and exited from Aarki. Gor, the CTO, is a globally renowned expert in radar and signal processing technologies with over 100 patent filings and extensive experience at Bosch and BMW. Narek, the CIO of the company, is a highly cited expert in the fields of very high frequency and high-speed systems as well as silicon integrated circuits, with industrial experience at Rohde & Schwarz, among others.

The founding team is excited about the partnership with Granatus Ventures and believes that the depth of Granatus’ network in the Armenian startup ecosystem will help to grow with engineering talent in Armenia.

Manuk Hergnyan, the Managing Partner at Granatus Ventures, is confident that Waveye’s solution is well-positioned to take advantage of the accelerating developments in autonomous systems and can greatly contribute to the emerging engineering cluster in Armenia.

The investment from Granatus Ventures will help the company to accelerate the development of its radar prototype and software offering and prepare it for more in-depth validations in the future.

About Waveye

Waveye, a US-based startup with teams in the US, Germany, and soon Armenia, develops a new generation of AI-powered imaging radars for automotive, industrial and robotics applications.