Innoviz Technologies Closes $170m Series C Funding Round To Develop An End-To-End Lidar Platform
10 June 2019
Leading Israeli lidar startup Innoviz Technologies announced a second closing at $170M of its series C round, led by China Merchants Capital, with participation from Shenzhen Capital Group, New Alliance Capital, Harel Insurance Investments and Financial Services, and Phoenix Insurance Company.
This bring Innoviz’s total funding to $252M.
This funding will support several key initiatives, including the enhancement of Innoviz’s perception software. Innoviz’s perception software remains a significant differentiator for the company by providing vehicles with a deep understanding of the 3D driving scene, including superior object detection (with up to 50 times greater efficiency than industry and academic standards), classification, segmentation and tracking technology to complement Innoviz’s LiDAR hardware offerings.
About Innoviz Technologies
Innoviz is a leading manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass-production of autonomous vehicles. InnovizPro is a solid-state LiDAR that offers outstanding performance and value for automotive and other applications. InnovizOne is a cutting-edge, automotive-grade LiDAR sensor that provides superior 3D sensing for Level 3-Level 5 autonomous driving. Innoviz is backed by top-tier strategic partners and investors, including Magna International, Samsung, Aptiv, Magma Venture Partners, Vertex Ventures, SoftBank Ventures Asia, China Merchants Capital (SINO-BLR Industrial Investment Fund, L.P.), 360 Capital Partners, Glory Ventures, Naver, Shenzhen Capital Group, New Alliance Capital, Harel Insurance Investments and Financial Services, Phoenix Insurance Company and others. For more information, visit www.innoviz.tech.