Innoviz Technologies has announced that it’s raised $132 million in new funding. The Israeli start-up is a leading provider of high-performance, solid-state LiDAR sensors and perception software.
The company says it’s focusing expansion plans in key automotive markets including the U.S., Europe, Japan and China. It also plans to expand its research and development efforts.
Omer Keilaf, CEO and co-founder of Innoviz says: “We’ve experienced significant growth over the past year to meet increased demand for solid-state LiDAR. This fundraising enables many of the substantial commitments it takes to bring this technology to market at a massive scale — the scale required by Tier 1 suppliers and automakers leveraging LiDAR to deliver autonomous vehicles to the masses by 2021. We’re excited to transition our production, manufacturing and research and development efforts into the next phase and continue to furnish the full stack of LiDAR hardware and software solutions to the industry.”
Keilaf adds: “This round is a strong testament to the excellent progress we’ve made in cementing our technology as a true market leader capable of meeting the rigorous automotive standards at a cost that makes mass production realistic.”
Innoviz’s strategic partners and investors include Samsung and SoftBank Ventures Asia.
To view our interview with Innoviz’s CEO, follow the link.