PR87758

TEL AVIV, Israel, Jan. 26, 2021 /PRNewswire=KYODO JBN/--

Innoviz Technologies (

https://c212.net/c/link/?t=0&l=en&o=3046944-1&h=3376362001&u=https%3A%2F%2Finnoviz.tech%2F&a=Innoviz+Technologies

), an Israeli LiDAR company founded by former officers of Israel's Defence

Forces elite technology division, known as "Unit 81", which recently announced

its intention to go public through a SPAC merger with Collective Growth

Corporation (Nasdaq: CGRO), based in Texas, at a market value of $1.4B, has

partnered with Macnica (

https://c212.net/c/link/?t=0&l=en&o=3046944-1&h=3550545383&u=https%3A%2F%2Fwww.macnica.com%2Fglobal%2Fabout%2Fcompany&a=Macnica

), Japan's largest distribution company and a global technology solutions

distribution company, to sell its flagship product, InnovizOne, in Japan for

the first time. InnovizOne has been selected by BMW for use in its fully

electric iX autonomous car program.

Photo -

https://mma.prnewswire.com/media/1426295/InnovizOne_Innoviz_Technologies.jpg

Macnica announced their intention to sell InnovizOne in the Japanese market

last month, and have since been inundated with purchase orders for Innoviz's

solid-state 3D MEMS-based long-range LiDAR, which leads the high-spec LiDAR

market by dint of its maturity and Innoviz's long-standing and very close

relationship with the Tier1 company Magna and customer BMW.

Mr. Atsushi Sato, GM of Macnica Strategic Innovation Group, had this to say:

"We have been partnering with Innoviz for some three years, starting with

detailed technical training at Innoviz's R&D center in Israel, and we have

already achieved good sales of InnovizPro, Innoviz's first product. InnovizOne,

first demonstrated by Macnica at our booth at the Automotive World show in

Tokyo in January 2020, is already recognized as the most mature LiDAR in the

market, with the best technology and the highest specifications. InnovizOne

uses only automotive-grade components and will soon finish certification as an

Automotive-Grade LiDAR. This market recognition is helping Macnica to achieve

quick sales of the InnovizOne, and we have every intention of expanding these

sales exponentially into many new markets beside those that we have already

penetrated with this product."  

Among the customers who have already bought InnovizOne from Macnica: Japanese

automotive manufacturers, for use in Advanced Development Programs leading to

car and truck series production programs, their Tier1 partners and many leading

industrial companies from various fields, from construction to space travel.

David Oberman, Innoviz's VP Asia commented: "At Innoviz, we are constantly

learning from our customers about new use cases and applications for our LiDAR

sensors, including but not limited to: construction, industrial automation,

security, trains, marine, agricultural, robotics, wind turbines, drones,

mining, mapping and smart city applications. I am thrilled that customers in

the Japanese market are using our LiDAR in their projects for various

applications and look forward to seeing our cooperation with Macnica continue

to grow and diversify in the future."

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. Innoviz's offerings include InnovizOne, an automotive-grade,

mass-producible LiDAR sensor, InnovizTwo, a next generation high-performance

automotive-grade LiDAR sensor, and Innoviz's perception software, designed to

complement its hardware offerings with advanced AI and machine learning-based

classification, detection and tracking features. Innoviz is backed by top-tier

strategic partners and investors, including SoftBank Ventures Asia, Samsung,

Magna International, Aptiv, Magma Venture Partners, Vertex Ventures, 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.

Contact Information

Innoviz Technologies

Media@innoviz-tech.com

Investors@innoviz-tech.com

Macnica

macpr@macnica.co.jp

https://www.macnica.co.jp

SOURCE: Innoviz Technologies