+25%

est. 2Y upside i

Series C

We make high definition radar allowing self-driving cars to see in…

Rank

#1475

Sector

Automotive

Est. Liquidity

~3Y

Data Quality

Data: Low

Zendar's equity offers moderate upside (~25% expected) but with high risk due to stale valuation, missing financial data, and likely dilution.

Last updated: July 19, 2026

Bull (30%)+78%

Exit multiple expands to 6x on projected 24-month revenue of $66.6M due to an IPO window or strategic acquisition, yielding $399.6M exit. After 20% dilution, net upside 77.6%.

Base (55%)+18%

Exit multiple converges to 4x on projected revenue of $66.6M, yielding $266.4M exit. After 20% dilution, net upside 18.4%, below the prior model's 87.5%.

Bear (15%)-56%

Exit multiple compresses to 1.5x on projected revenue of $66.6M, yielding $99.9M exit. After 20% dilution, net downside 55.6%, but preference stack not triggered as exit exceeds $58.7M total funding.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

Funding Intensity

3260%

Total funding of $58.7M represents 32.6% of entry valuation ($180M), so preferred shareholders would have a large claim; however, bear case exit of $99.9M is above that threshold.

Dilution Risk

high

With $36M raised in Nov 2023 and ongoing cash burn, a new round within 24 months is likely, causing 15-25% dilution.

Secondary Liquidity

none

No secondary market transactions are indicated; liquidity will depend on an IPO or acquisition.

Questions to Ask at the Interview

Strategic questions based on Zendar's data — designed to show you've done your homework.

  • 1

    “How does Zendar's Distributed Aperture Radar differ from Arbe's technology in terms of resolution and cost?”

  • 2

    “What are the unit economics (e.g., gross margin per system) and the timeline to profitability?”

  • 3

    “Given the dilution risk from likely future funding, how does the equity package compare to cash compensation at this stage?”

Community

Valuation Sentiment

Our model estimates +25% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.