Innoviz Technologies, a Kfar Saba, Israel-based provider of LiDAR sensing solutions designed for the mass commercialization of autonomous vehicles, raised $65m in Series B funding.
– Delphi Automotive PLC
– Magna International,
– 360 Capital Partners,
– Glory Ventures,
– Zohar Zisapel,
– Vertex Venture Capital,
– Magma Venture Partners,
– Amiti Ventures, and
– Delek Motors.
A second closing of the round is expected to be announced soon, introducing additional strategic partners.
The company, which has now raised $74m in total funding, intends to use the funds to take its technology to mass production while scaling its computer vision activity, signing new strategic collaborations, and penetrating new areas of development. It is also hiring to fill positions in engineering, design, sales and other key functions, as well as open new support offices in important regions.
Led by Omer Keilaf, Co-founder and CEO, Innoviz offers LiDAR (Light Detection and Ranging) technology that leverages a proprietary system, MEMS and detector designs to give autonomous vehicles sensing capabilities, even in challenging environments such as bright direct sunlight, varying weather conditions and multi-LiDAR environments.
The company’s LiDAR products include:
– InnovizPro, a development platform designed to provide auto manufacturers, Tier 1 suppliers and technology companies with the most advanced LiDAR available for testing and development, which will be available in Q1 of 2018, and
– InnovizOne™, the company’s automotive grade LiDAR device for levels 3 – 5 autonomous driving, which will be available in 2019.
Innoviz has over 75 employees.