Innoviz Reaches a Key Milestone with Successful Winter Test of InnovizTwo LiDAR and AI-Powered Perception Software, Showcasing Significant Progress and New Opportunities
Innoviz successfully completed an 18-day test in the harshest winter conditions, demonstrating the robustness and reliability of the InnovizTwo LiDAR and Perception Software
TEL AVIV, Israel, April 18, 2024 /PRNewswire/ -- Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software, announced today the successful completion of a winter test for its InnovizTwo LiDAR and Perception Software, a key engineering and R&D achievement.
IInnoviz uses winter tests to measure and scrutinize the Company's products for thousands of kilometers. The data and insights accumulated are used to improve Innoviz's proprietary AI-backed software and hardware solutions. Ahead of the drive, Innoviz received TÜV SÜD Certification Mark for Roof Racks, establishing an essential industry benchmark, approving the LiDAR roof setup to operate on roads.
During an 18-day period, through more than 120 hours of driving, and across ten countries, including Germany, Denmark, Sweden, Finland, Estonia, Latvia, Lithuania, Poland, Czech Republic and Austria, the test demonstrated the effective performance of the Innoviz suite of advanced autonomous solutions in the harshest of winter conditions, including extreme temperatures, rain, snow, and heavy fog. The winter test provided invaluable data and insights for the vehicle as it traversed some of the world's most challenging driving conditions and the successful results demonstrate Innoviz's commitment to building best-in-class technology to power advanced autonomous driving.
"The winter test is the latest validation of Innoviz's ability to provide drivers with a safe, dynamic, and advanced autonomous driving experience," said Omer Keilaf, CEO and Co-Founder of Innoviz Technologies. "Proving its efficacy in diverse conditions – from the bluest of skies to the harshest icy conditions - and enriching our software with road data will take the Innoviz AI-platform to the next level. We are confident this technology will help demonstrate our ability to meet strict timelines and showcase the robustness of our architecture."
In 2030*, approximately 10 million LiDAR scanners across various autonomy levels are expected to be sold globally in the automotive market. The number of LiDAR scanners to be sold in 2035 is likely to be more than double according to IHS.
*According to IHS data from February 2024
About InnovizTwo LiDAR
InnovizTwo is a robust solution, operating seamlessly in the harshest of weather conditions. Capable of supporting several levels of autonomy, InnovizTwo is Innoviz's next-generation LiDAR sensor featuring superior quality and bringing autonomous capabilities for automakers faster and cheaper.
About Innoviz's AI-Based Perception Software
As the "Brain" behind the "Eyes" of the InnovizTwo LiDAR, the proprietary AI algorithms of Innoviz's Perception Software provide advanced object detection, classification, and tracking features, as well as collision classification, localization, and calibration capabilities, with the potential to transform how autonomous cars perceive and navigate the world.
About Innoviz
Innoviz is a global leader in LiDAR technology, serving as a Tier 1 supplier to the world's leading automotive manufacturers and working towards a future with safe autonomous vehicles on the world's roads. Innoviz's LiDAR and perception software "see" better than a human driver and reduce the possibility of error, meeting the automotive industry's strictest expectations for performance and safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected by internationally recognized premium car brands for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases.
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