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Innoviz Technologies Announces After-market LiDAR Solution, InnovizPro™; Collaborates With Jabil on Development and Deployment

Innoviz Technologies Announces After-market LiDAR Solution, InnovizPro™; Collaborates With Jabil on Development and Deployment

Available in Q1 2018, LiDAR device will deliver superior performance at significantly lower costs

PONTIAC, MICHIGAN — May 23, 2017 — Innoviz Technologies, a provider of LiDAR intelligent sensing solutions designed for the mass commercialization of autonomous vehicles, today announced the development of InnovizPro™, an after-market LiDAR solution designed for testing and R&D of autonomous driving technology. The company has entered into an agreement with Jabil, a leading product solutions company providing comprehensive electronics design, production and product management services, to mass produce the product. InnovizPro™ will be available starting Q1 2018.

InnovizPro™ will deliver a high-definition, solid-state LiDAR device that uses Innoviz’s patent-pending sensor technologies and proprietary architecture to deliver superior object detection and accuracy at lower costs than existing LiDAR solutions. The product will enable auto manufacturers, shared mobility companies, autonomous driving technology companies and Tier 1 suppliers to conduct effective development and testing of autonomous driving technology.

Earlier this year, Innoviz unveiled InnovizOne™, its flagship automotive grade LiDAR device offering high-definition 3D scanning in a compact, affordable, solid-state design. Innoviz is currently engaging with leading stakeholders on the integration of InnovizOne™ into driving systems and is continuing development, targeting automotive grade quality for levels 3-5 autonomous driving. Samples of InnovizOne™ will be available during Q1 2019.

Both InnovizOne™ and InnovizPro™ offer high-definition intelligent 3D sensing to provide an accurate and reliable scan of a vehicle’s surroundings. The devices will leverage Innoviz’s proprietary System, MEMS and Detector design to deliver superior performance to existing LiDAR solutions, even in challenging environments such as night-time, bright sunlight and varying weather conditions. In addition, the company’s proprietary solid-state design introduces a device without mechanical moving parts compared to traditional LiDAR, enabling Innoviz to offer a smaller product footprint at mass market price.

“Our mission is to enable the autonomous vehicle revolution by providing the highest performance, lowest cost and most compact LiDAR solutions on the market,” said Omer Keilaf, CEO & Co-Founder of Innoviz. “Companies are currently spending tens of thousands of dollars on under-performing LiDAR solutions in order to test their autonomous vehicles. We’ve decided to release our current design and make it available for field production purposes now, because it is already so much more advanced and less expensive than what’s currently available on the market. Meanwhile, we’ll continue development on InnovizOne™ to get it to automotive grade standards by 2019.”

Keilaf went on to say, “we teamed up with Jabil because of their recent investments in technology that enable autonomous driving for all types of vehicles. We are leveraging the engineering excellence of their Optics team, together with their automotive expertise, to support our new product introduction efforts at their newest facility in Haifa, Israel.”

“Our Optics experts are excited to collaborate with Innoviz to develop and deploy their 3D scanning and sensing solution,” said Irvin Stein, Vice President of Jabil Optics. “Combining the strengths of our engineering teams with the ingenuity of Innoviz is exactly the disruptive edge required to execute on key technologies for autonomous driving.”

About Jabil

Jabil is a product solutions company providing comprehensive electronics design, production and product management services to global electronics and technology companies. Offering complete product supply chain management from facilities in 28 countries, Jabil provides comprehensive, focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, “JBL”. For Further info, visit: http://www.jabil.com/

About Innoviz Technologies

Innoviz develops cutting-edge LiDAR remote sensing solutions to enable the mass commercialization of autonomous vehicles. The company’s flagship product, InnovizOne™, offers a solid-state LiDAR product that uses patent-pending technology to deliver superior performance at the affordable costs and reduced sizes necessary for mass market adoption. Headquartered in Israel, the company was founded in January 2016 by former members of the elite technological unit of the Israeli Defense Forces with renowned expertise in the fields of electro-optics, computer vision, MEMS design and signal processing. Innoviz is backed by top-tier investors including Vertex Venture Capital, Magma Venture Partners, Amiti Ventures, Delek Motors and Mr. Zohar Zisapel. For more information, visit www.innoviz.tech.

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Innoviz Media Contact

Matt McAllister

Fluid PR & Communications

(510) 229-9707

matt@fluidspeak.com

Innoviz debuts an aftermarket LiDAR product for self-driving car development

LiDAR is a key ingredient in the overall sensing package required to make autonomous cars a reality (though Tesla would disagree), but it’s also prohibitively expensive, especially for companies just starting out, and researchers not tied to companies with deep pockets. That’s why Innoviz has created a new aftermarket LiDAR unit offering good performance at more budget-friendly prices, set to go into mass production starting early next year.

The solution is called InnovizPro, and will be created in partnership with Jabil, an electronics design and projection company that acts as a supplier to global consumer electronics and industrial tech companies. It’ll be a solid-sate LiDAR device, like the InnovizOne unit it revealed earlier this year targeting deployment in actual production vehicles designed for consumer use.

InnovizPro will offer high-definition 3D environment scanning, and is intended to help automakers and tier 1 suppliers develop autonomous tech that can later be used with production-ready equipment like the InnovizOne, which is on track for a Q1 2019 sample availability date.

Basically, Innoviz decided to take the current prototype it’s using in development of the InnovizOne and make it available to outside organizations and companies ahead of time, in a form that, while not production-ready, will still be far more affordable and performant than other existing solutions. Innoviz CEO and co-founder noted in a press release that “companies are currently spending tens of thousands of dollars on under-performing LiDAR solutions” for testing, which is likely a dig at Velodyne, whose LiDAR units adorn Uber test vehicles and have a per-unit cost of around $70,000.

No word on specific pricing of Innoviz’s solution, but given the bombast, you can expect it to be less than $70K. Plus, solid state means fewer moving parts, which should hopefully translate to fewer maintenance concerns and longer usable life. All good things when you’re engaged in autonomous vehicle development and testing.

Innoviz Technologies Announces After-market LiDAR Solution, InnovizPro™; Collaborates With Jabil on Development and Deployment

Innoviz Technologies Announces After-market LiDAR Solution, InnovizPro™; Collaborates With Jabil on Development and Deployment

Available in Q1 2018, LiDAR device will deliver superior performance at significantly lower costs

PONTIAC, MICHIGAN — May 23, 2017 — Innoviz Technologies, a provider of LiDAR intelligent sensing solutions designed for the mass commercialization of autonomous vehicles, today announced the development of InnovizPro™, an after-market LiDAR solution designed for testing and R&D of autonomous driving technology. The company has entered into an agreement with Jabil, a leading product solutions company providing comprehensive electronics design, production and product management services, to mass produce the product. InnovizPro™ will be available starting Q1 2018.

InnovizPro™ will deliver a high-definition, solid-state LiDAR device that uses Innoviz’s patent-pending sensor technologies and proprietary architecture to deliver superior object detection and accuracy at lower costs than existing LiDAR solutions. The product will enable auto manufacturers, shared mobility companies, autonomous driving technology companies and Tier 1 suppliers to conduct effective development and testing of autonomous driving technology.

Earlier this year, Innoviz unveiled InnovizOne™, its flagship automotive grade LiDAR device offering high-definition 3D scanning in a compact, affordable, solid-state design. Innoviz is currently engaging with leading stakeholders on the integration of InnovizOne™ into driving systems and is continuing development, targeting automotive grade quality for levels 3-5 autonomous driving. Samples of InnovizOne™ will be available during Q1 2019.

Both InnovizOne™ and InnovizPro™ offer high-definition intelligent 3D sensing to provide an accurate and reliable scan of a vehicle’s surroundings. The devices will leverage Innoviz’s proprietary System, MEMS and Detector design to deliver superior performance to existing LiDAR solutions, even in challenging environments such as night-time, bright sunlight and varying weather conditions. In addition, the company’s proprietary solid-state design introduces a device without mechanical moving parts compared to traditional LiDAR, enabling Innoviz to offer a smaller product footprint at mass market price.

“Our mission is to enable the autonomous vehicle revolution by providing the highest performance, lowest cost and most compact LiDAR solutions on the market,” said Omer Keilaf, CEO & Co-Founder of Innoviz. “Companies are currently spending tens of thousands of dollars on under-performing LiDAR solutions in order to test their autonomous vehicles. We’ve decided to release our current design and make it available for field production purposes now, because it is already so much more advanced and less expensive than what’s currently available on the market. Meanwhile, we’ll continue development on InnovizOne™ to get it to automotive grade standards by 2019.”

Keilaf went on to say, “we teamed up with Jabil because of their recent investments in technology that enable autonomous driving for all types of vehicles. We are leveraging the engineering excellence of their Optics team, together with their automotive expertise, to support our new product introduction efforts at their newest facility in Haifa, Israel.”

“Our Optics experts are excited to collaborate with Innoviz to develop and deploy their 3D scanning and sensing solution,” said Irvin Stein, Vice President of Jabil Optics. “Combining the strengths of our engineering teams with the ingenuity of Innoviz is exactly the disruptive edge required to execute on key technologies for autonomous driving.”

About Jabil

Jabil is a product solutions company providing comprehensive electronics design, production and product management services to global electronics and technology companies. Offering complete product supply chain management from facilities in 28 countries, Jabil provides comprehensive, focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, “JBL”. For Further info, visit: http://www.jabil.com/

About Innoviz Technologies

Innoviz develops cutting-edge LiDAR remote sensing solutions to enable the mass commercialization of autonomous vehicles. The company’s flagship product, InnovizOne™, offers a solid-state LiDAR product that uses patent-pending technology to deliver superior performance at the affordable costs and reduced sizes necessary for mass market adoption. Headquartered in Israel, the company was founded in January 2016 by former members of the elite technological unit of the Israeli Defense Forces with renowned expertise in the fields of electro-optics, computer vision, MEMS design and signal processing. Innoviz is backed by top-tier investors including Vertex Venture Capital, Magma Venture Partners, Amiti Ventures, Delek Motors and Mr. Zohar Zisapel. For more information, visit www.innoviz.tech.

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Innoviz Media Contact

Matt McAllister

Fluid PR & Communications

(510) 229-9707

matt@fluidspeak.com

 

Innoviz Technologies Selected from Among 300 Companies to Participate in Startup Autobahn 2017

  • Startup Autobahn is an exclusive innovation platform for future mobility startups headed by Daimler, Hewlett Packard Enterprise, Plug and Play, the University of Stuttgart and ARENA2036
  • Innoviz Technologies will partner with leading corporate partners at Autobahn to accelerate R&D pilots relating to advanced 3D sensing solutions enabling fully autonomous vehicles

Stuttgart, Germany and Tel Aviv, Israel, February 14, 2017 – Innoviz Technologies Ltd., a prominent Israeli startup providing LiDAR remote sensing solutions for fully autonomous vehicles announced today that it has been selected from over 300 companies to join the upcoming cycle of the Startup Autobahn program. Innoviz’s selection comes following a meticulous screening process by representatives from Daimler, HPE, Plug and Play, University of Stuttgart and ARENA2036, intended to identify breakthrough technologies in the automotive space.

Driven by its proprietary HW & SW technologies, Innoviz offers a comprehensive market solution. Its flagship high definition solid state LiDAR, InnovizOne™, unveiled at CES2017, enables 3D remote sensing to produce highly accurate real-time images of the vehicle’s surroundings while meeting automotive standards and significantly reducing cost and size. InnovizOne™ is uniquely designed to seamlessly integrate into any vehicle and to consistently function under varying lighting and weather conditions.

Since its inception in 2016, Innoviz demonstrated rapid R&D progress and is positioning itself to be first to market delivering best-in-class comprehensive LiDAR solution.

“We are thrilled for the opportunity to take part in this unique program, enabling corporate leaders and emerging startups to jointly collaborate and accelerate development of critical technologies to enable fully autonomous vehicles”, said Omer Keilaf, Co-Founder and CEO of Innoviz. “Our cutting-edge InnovizOne™ LiDAR presents the automotive market with a unique opportunity to accelerate adoption of a comprehensive sensing solution and our selection to join the Startup Autobahn program validates Innoviz’s strong leadership and product capabilities”.

ABOUT INNOVIZ

Innoviz provides LiDAR remote sensing solutions for fully autonomous vehicles as well as 3D Computer Vision solutions including Object Detection, Tracking and Classification and Accurate Mapping and Localization. Innoviz’s growing team is comprised of leading experts in Electro-Optics, Computer Vision, MEMS Design, Digital Signal Processing and more. For more information about Innoviz, visit our website at www.innoviz.tech

CES 2017: MAGNA AND INNOVIZ PARTNER ON LIDAR FOR AUTONOMOUS DRIVING SYSTEMS

·        Prototype demo devices unveiled at CES

·        High-definition, solid-state LiDAR enables real-time 3D remote sensing

·        Affordable, compact high performance for the mass market

HIGHLIGHT

AURORA, Ontario, Canada and KFAR SABA, Israel, Dec. 20, 2016 — Magna International Inc. and Innoviz Technologies Ltd. announced today they are partnering to deliver LiDAR remote sensing solutions for the implementation of autonomous driving features and full autonomy in future vehicles.

Recognizing that LiDAR is imperative for achieving the desired levels of performance and safety, Magna selected Innoviz’s technology to be integrated into its autonomous driving systems to provide a complete sensor-fusion solution to automakers.

Innoviz’s prototype demo LiDAR devices will be showcased in Magna’s booth at CES 2017, #5936 in the North Hall at the Las Vegas Convention Center from January 5-8.

Driven by a unique hardware architecture and innovative software technologies, Innoviz offers a comprehensive market solution. The high-definition, solid-state LiDAR enables 3D remote sensing to produce highly accurate real-time images of the vehicle’s surroundings while meeting automotive standards and significantly reducing cost and size. Varying from solutions currently on the market, the Innoviz LiDAR can be seamlessly integrated into any vehicle and is designed to effectively manage changing light and weather conditions.

he opportunity to partner with Innoviz, as we have confidence in their multi-disciplinary team and this gives Magna a full suite of sensing systems – camera, RADAR and LiDAR – to complement our autonomous vehicle capability,” said Swamy Kotagiri, Magna Chief Technology Officer. “Building on our leadership position in driver assistance, our strong systems knowledge and complete-vehicle expertise give us the ability to efficiently fuse various sensors and develop robust systems as vehicles continue to progress towards full autonomy.”

“The integration of LiDAR into driving systems is pivotal in enabling full autonomy and in ensuring a comprehensive sensing solution that satisfies the highest safety standards. This cooperation with Magna affirms Innoviz’s breakthrough technology and product capabilities as well as our ability to adhere to Magna’s high bar on safety requirements,” said Omer Keilaf, Co-Founder and CEO of Innoviz. “We are very proud to partner with Magna and, building upon Magna’s expertise and strong market position, our partnership will accelerate market adoption of our best-in-class LiDAR solution.”

TAGS

CES, innovation, LiDAR, autonomous driving, sensor fusion, ADAS

 

INVESTOR CONTACT

Louis Tonelli, Vice-President, Investor Relations

louis.tonelli@magna.com, 905.726.7035

 

MEDIA CONTACTS

Tracy Fuerst, Global Director of Corporate Communications & PR

tracy.fuerst@magna.com, 248.631.5396

 

Liron Eldar, Marcom Manager

lirone@innoviz.tech, +972-544-492294

 

ABOUT MAGNA

We are a leading global automotive supplier with 312 manufacturing operations and 98 product development, engineering and sales centres in 29 countries. We have over 155,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure and roof systems. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.

 

ABOUT INNOVIZ

Innoviz provides LiDAR remote sensing solutions for fully autonomous vehicles as well as 3D Computer Vision solutions including Object Detection, Tracking and Classification and accurate Mapping and Localization. Innoviz’s growing team is comprised of leading experts in Electro-Optics, Computer Vision, MEMS design, Digital Signal Processing and more. For more information about Innoviz, visit our website at www.innoviz.tech.

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Innoviz Technologies Secures $9M in Series A Funding Solution Will Enable Autonomous Driving

Kfar Saba, Israel, August 8, 2016 — Innoviz Technologies Ltd., an Israeli startup developing advanced sensors and systems enabling fully autonomous vehicles, emerged from stealth mode and announced it raised $9 million in Series A financing round. Investors include Mr. Zohar Zisapel, Vertex Venture Capital, Magma Venture Partners, Amiti Ventures and Delek Investments.

Innoviz recognized that the optimal sensing solution for Autonomous Vehicles is the LiDAR, a laser based sensor providing an accurate scan of the vehicle’s surrounding. High performance LiDARs come at prohibitive cost for mass commercialization. Innoviz’ game changing High Definition Solid State LiDAR (HD-SSL) is based on breakthrough technology which offers superior performance and accuracy – wider field of view, higher resolution in both axis and long range sensing – while significantly reducing size and reducing cost below $100.

Innoviz’ HD-SSL serves as the cornerstone for the sensing required for fully autonomous driving. Innoviz intends to take a leading role in the development of the full sensing system required for this emerging industry and overtake technological challenges such as sensor fusion, 3D mapping and localization. Innoviz plans to present its prototype product by the end of 2016.

 “The car industry is gearing up towards a revolution by the introduction of autonomous vehicles,” said Omer Keilaf, Co-Founder and CEO of Innoviz. “The ability to transform this vision into a reality depends on performance and cost. Current approaches compromise passenger safety by failing to include LiDAR sensors as part of the system, due to cost and performance limitations. Our groundbreaking technology will make our HD-SSL accessible to mass market, positioning Innoviz as a leading force in the manifestation and acceleration of this revolution”.

“Innoviz introduces a solution that solves a major performance and cost issue in existing technologies for Autonomous Driving,” said Zohar Zisapel, investor, Co-Founder and Chairman of the Board at Innoviz. I always look to invest in companies leveraging advanced technologies to solve real pains for their customers and the lack of cost effective LiDAR is definitely a pain point for the Autonomous Vehicles industry. The company was established by a group of extraordinary talented founders who are building an exceptionally strong R&D team and I am confident in their ability to revolutionize this space”.

“We are very excited to partner with our investors for the deep knowledge and experience they demonstrate in the automotive industry and we are certain than Innoviz will benefit from their support,” added Keilaf.

Innoviz was founded in 2016 by Omer Keilaf, Oren Rosenzweig, Oren Buskila and Amit Steinberg. All founding members served in the elite technological unit of the Intelligence Corps in the Israeli Defense Forces and have since served in key positions in multiple startups and multinational corporations. Innoviz’ team is currently reaching 30 members and is expected to significantly grow throughout this year.

For more information, visit: http://www.innoviz.tech/

Media Contact

Oren Rosenzweig, Chief Business Officer

+97299559218

info@innoviz.tech