Innoviz Technologies Ltd. (‘Innoviz’) operates as a Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software that feature technological breakthroughs across core components and bring enhanced vision and superior performance to enable safe autonomous driving at a mass scale.
The company provides a complete and comprehensive solution for OEMs and Tier-1 partners that are developing and marketing autonomous driving vehicles to the passenger car and other r...
Innoviz Technologies Ltd. (‘Innoviz’) operates as a Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software that feature technological breakthroughs across core components and bring enhanced vision and superior performance to enable safe autonomous driving at a mass scale.
The company provides a complete and comprehensive solution for OEMs and Tier-1 partners that are developing and marketing autonomous driving vehicles to the passenger car and other relevant markets, such as robotaxis, shuttles, delivery vehicles, and trucks.
The company created a new type of LiDAR sensor from the chip-level up, including a suite of powerful and sophisticated software applications for high-performance computer vision to allow superior perception. In 2018, the company achieved a design win to power BMW’s Level 3 autonomous platform, a program that reached maturity during 2024, with vehicles already being sold with its LiDARs and perception software.
Since 2021, the company has funded the development of two production path programs: the InnovizOne and InnovizTwo LiDAR sensor and perception software suites. With the InnovizOne program transitioned from the development phase into full series production in 2024, the company eliminated duplicative cost structures and significantly reduced spending on InnovizOne development, while reinvesting a portion of the savings into the InnovizTwo sensor and perception software platform. All quoting and bidding activity in the company’s request for information and request for quotation pipeline is now focused on the InnovizTwo platform.
During 2022, the company made the strategic decision to become a Tier-1 supplier of LiDAR and perception software to the automotive industry. This decision allows the company to have direct technical discussions with end customers and to improve pricing to automotive OEMs, with the goal of continuing to strengthen its position in the automotive market.
In 2022, following more than two years of extensive diligence and qualification, the company was selected by Volkswagen as its direct LiDAR supplier for automated vehicles within the Volkswagen brands, with its InnovizTwo next-generation high-performance automotive-grade LiDAR sensor. In 2023, the company announced that Volkswagen aims to expand its use of its InnovizTwo LiDAR to its existing light commercial vehicle program, the I.D Buzz.
In 2024, the company announced that Mobileye will use the InnovizTwo Long-Range and the new InnovizTwo Short- to Mid-Range LiDARs for the Mobileye Drive™ platform. The new InnovizTwo Short- to Mid-Range leverages InnovizTwo Long-Range’s industrialization maturity and is designed to meet the requirements for light commercial vehicles, shuttles, robotaxis, and can be customized to suit a wide array of vehicular design and functionality requirements.
The company’s innovation has produced LiDAR solutions that deliver market-leading performance, and that meet the current demanding safety requirements for Level 2+ through Level 5 autonomous vehicles at price points suitable for mass-produced passenger vehicles.
The company’s robust software suite enables its ~905nm wavelength laser-based LiDAR architecture to be easily leveraged to provide compelling solutions for Level 2+ through Level 4 (and Level 5 when applicable), using both its long- and medium-range LiDARs. The company’s integrated custom design of advanced hardware and software components, which leverages the multidisciplinary expertise and experience of its team, enables the company to provide autonomous solutions. This means that the company is positioned to penetrate the current market, which is focused primarily on Level 2+, Level 3, and Level 4 production, and to continue to capture and extend its market share to Level 5 as the market continues to mature.
The company is currently expanding its third-party manufacturing capacity through contract manufacturers to meet an anticipated increase in customer demand for its products.
On January 7, 2025, the company announced its collaboration with NVIDIA to allow its perception software to run seamlessly with the NVIDIA DRIVE AGX Orin platform, offering a range of software-driven features designed to accelerate autonomous driving applications by allowing for real-time processing and advanced understanding of the vehicle’s environment, enabling exceptional object detection, classification, and tracking capabilities.
On February 10, 2025, the company entered into a securities purchase agreement (‘Securities Purchase Agreement’) with certain institutional investors (the ‘Purchasers’).
LiDAR Applications in Shuttles and Robotaxis
The company’s LiDAR is uniquely suited to shuttle and robotaxi applications. By deploying LiDARs around the perimeter of the vehicle, shuttle and robotaxi designers can avoid both occlusion and blind spots. Just as a human driver would cautiously move forward to peek around a truck, software can creep, allowing a corner-mounted LiDAR to see over the intersection and decide to go around the truck when traffic is clear.
LiDAR Applications in Trucks
Fully autonomous trucks may weigh 20 tons or more and have a stopping distance of several hundred meters. Full autonomy in this space is not only dependent on long-range sensors, but also on advanced and validated software that has to be proved to work at highway speed. This is further complicated by traffic diversions, construction, and debris on the freeway, accident sites, traffic cones, and other common highway occurrences. Development of fully autonomous trucks is supported by the company’s current LiDARs.
In addition to the application of a fully autonomous truck driving alone, LiDAR sensors can enable a platoon of leader-follower trucks, where the lead vehicle has a human driver, and the follower vehicles are autonomous. For this application, LiDAR sensors are critical in maintaining distance between the leader and follower(s). A gap will allow other vehicles to cut in, disturbing the truck platoon formation. The company’s high-precision LiDARs range sensing allows a tight platoon to drive at highway speed with safety.
Growth Strategy
The company’s strategies are to drive increased adoption through lower-cost products; penetrate lower levels of autonomy (e.g., Level 2+ ADAS); leverage its software suite to position for seamless upgrade to Level 3 autonomous driving; expand partnerships; continue to invest in a strong software suite; and develop additional products to better address other LiDAR markets.
Products
The company’s products provide a good understanding of the location of the vehicle in a broad range of driving environments and allow for confident detection and planning at varying vehicle speeds. The company’s product portfolio encompasses sensor hardware and perception and decision-making software that improve existing vehicle features and enable new levels of vehicle automation for passenger car and commercial applications.
The company’s product offerings include:
InnovizOne - a solid-state LiDAR sensor specifically designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade, mass-producible solution to achieve autonomy. The automotive-grade sensor is purpose-built to be rugged, affordable, reliable, low-power consuming, lightweight, high-performing, and seamlessly integrable into Level 3 through Level 5 autonomous vehicles to ensure the safety of passengers and pedestrians alike. InnovizOne was classified as a laser class 1 product under European standard IEC 60825-1 Rev 3 Class 1 on September 24, 2019.
InnovizTwo Long-Range - announced in 2020, InnovizTwo Long-Range is a next-generation high-performance automotive-grade LiDAR sensor that is currently in development, and engineering samples have been produced for demonstrations and evaluations. InnovizTwo Long-Range will offer a fully featured solution for all levels of autonomous driving. Featuring a major cost reduction compared to InnovizOne, InnovizTwo Long-Range also includes improved lasers and detectors that increase range performance at a lower system cost, which is expected to provide a significant performance improvement over InnovizOne. InnovizTwo Long-Range will also offer the option to integrate the Perception Application in the LiDAR sensor itself.
InnovizTwo Short- to Mid-Range - Designed for L3 Consumer Vehicles, and L4 Shuttles and Robotaxis - announced in the second quarter of 2024, InnovizTwo Short- to Mid-Range is a next-generation high-performance automotive-grade LiDAR sensor designed to cover the short- and medium-range (up to 100m) around the vehicle. It is currently in development, and engineering samples have been produced for demonstrations and evaluations. InnovizTwo Short- to Mid-Range will offer a fully featured solution for all levels of autonomous driving. InnovizTwo Short- to Mid-Range is based on InnovizTwo platform technology and provides a wide field of view, detection ranges from 0.2m up to 100m, which enables coverage of the vehicle surrounding and vicinity by deploying multiple units around the vehicle. This is especially important for shuttles and robotaxis that require detection of pedestrians, obstacles, and objects near the vehicle.
Perception Application - a software application that turns raw point cloud data from Innoviz LiDAR products into perception outputs. The outputs can serve as a standalone, functionally safe perception software, or can be integrated into the vehicle’s existing perception stack at different levels to support various sensor fusion architectures. In addition, the company’s software leverages the rich data derived from its LiDAR products, coupled with proprietary state-of-the-art artificial intelligence-based algorithms, to provide superior scene perception and deliver an automotive-grade ASIL B(D) solution.
Commercial Traction
The early start with BMW’s Level 3 series production program resulted in the company’s team becoming deeply engaged in ISO26262 compliance and functional safety adherence. With active participation, including a resident team, in the BMW program at Unterschleißheim in Germany, the company’s team delivered InnovizOne LiDARs to the integration teams at Magna and BMW and learned a lot from the extensive validation testing that is needed in order to conform to applicable standards.
Recognizing the long path to volume ramp in the automotive industry, with additional complexity due to demanding safety standards for autonomous vehicles, such as ISO26262-ASIL-B, the company has taken a broad-based approach to potential LiDAR market opportunities. Instead of treating adjacent markets in an opportunistic manner, the company has placed considerable focus on discovering applications and cultivating customers and resellers in these markets. Accordingly, the company focuses its business development activity on both the consumer automotive market and on other markets:
Automotive: high focus, with significant management attention, on a number of automotive opportunities, where the LiDAR and perception offering are tailored to the OEMs’ needs, with a view to acquiring high-volume series production programs, similar to the BMW L3 Program and other Volkswagen brands’ programs. This approach has the company’s business and research and development teams working together both directly with OEMs, as well as (in some instances) with Tier-1 partners to respond to OEM RFQs with customized offerings. The company’s collaborative relationships allow it to work with the Tier-1 and OEM engineering and procurement teams with complete transparency, bringing innovation, manufacturing know-how, and value to the program.
The company is working closely with leading OEMs in Europe, Asia, and North America that define Level 2+, Level 3, and Level 4 programs and consider the adoption of InnovizTwo Long-Range and InnovizTwo Short- to Mid-Range to such programs and thereby bring significant additional value to the ADAS+ and autonomous applications.
The company is in discussions with a number of robotaxi, shuttle, truck, and delivery robot potential customers to incorporate InnovizTwo Long-Range and InnovizTwo Short- to Mid-Range into their upcoming builds.
Other Segments: leveraging the company’s products to win business in all other segments where volumes are lower at present, but where opportunities of scale are likely in the near term. This approach requires a broad presence in the global marketplace, with the company’s business teams participating in direct and channel relationships with potential customers in all segments.
Sales and Marketing
The company markets and sells its LiDAR solutions through a direct sales organization, as well as through its distribution channels. The company’s technology and product focus since inception has been on the automotive OEM opportunity for high-performance LiDAR solutions in the autonomous driving industry. This focus has also informed and guided the company’s sales and marketing activities, which led to early contact with OEMs and Tier-1 suppliers, and also led to its sales team acting as a bridge between its research and development team and these partners. The company’s sales and marketing team continues to focus on expanding its relationships with OEMs and seeks to leverage its existing relationships, as well as new commercial agreements, to expand its market to other industries.
Research and Development
The company’s research and development expenses were approximately $73.8 million for the year ended December 31, 2024.
Intellectual Property
As of December 31, 2024, the company owned 66 issued patents and had 128 pending patent applications. The portfolio includes U.S. and foreign patent applications filed in Israel, Europe (including Germany, France, and the United Kingdom), China, Japan, and Korea. In addition, the company has registered U.S. and foreign trademarks. The company’s patents and patent applications cover a broad range of system-level and component-level aspects of its key technology, including, among other things, LiDAR systems, lasers, scanners, receivers, optical devices, and perception technology.
Regulation
As a LiDAR technology company, the company is also subject to laws and regulations beyond those specific to vehicle safety standards and highway safety. For example, the company’s products are governed by the Electronic Product Radiation Control Program administered by the U.S. Food and Drug Administration (the ‘FDA’).
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