PR98510

TEL AVIV, Israel and TOKYO, October 27, 2022 /PRNewswire=KYODO JBN/ --

Innoviz Technologies (Nasdaq: INVZ) [https://innoviz.tech/ ] (the "Company" or

"Innoviz"), a technology leader of high-performance, automotive-grade LiDAR

sensors and perception software, today announced its partnership with Kudan

[https://www.kudan.io/ ] (Tokyo Stock Exchange securities code: 4425, hereafter

"Kudan"). Kudan's perception software allows machines to generate 3D maps of

surrounding environments and gain autonomous mobility based on Innoviz LiDARs.

The cooperation between Innoviz and Kudan addresses the growing need for 3D

digital mapping solutions leveraging "Simultaneous Localization and Mapping"

(SLAM) technology.  Since autonomous decisions depend on the quality of the

information, perception of the environment is critical for machines.  Coupled

with Innoviz's LiDAR scanning, the SLAM technology enables a dynamic mapping of

the environment with accurate, high-density, colorized 3D point cloud

generation.  With the global presence and strong networks of both companies,

this partnership is a key enabler for a broad set of uses, including HD maps,

robotics, construction, surveying, and "digital twinning" and "industrial

metaverse" applications.

In addition to enabling non-automotive applications, Kudan's SLAM software also

gives autonomous vehicles the ability to view and act upon changes to their

environment in real-time by providing highly accurate, reliable results that

allow vehicles to react to their surroundings. Innoviz's high-performing LiDARs

deliver a rich 3D point cloud at distances up to 250 meters. Resilient to

sunlight and weather conditions, Innoviz's LiDARs contribute to the accuracy

and reliability of Kudan's SLAM software for safe automotive and non-automotive

applications

"Innoviz is excited to promote our mapping collaboration both in automotive

applications and beyond with the Kudan SLAM solution," said Omer Keilaf,

Co-Founder and CEO of Innoviz. "Kudan's SLAM software and related tools are a

great fit with Innoviz's products and we see great opportunity in a number of

applications, including HD mapping for autonomous driving, robotics, geospatial

mapping and surveying. We're also seeing traction in Asia that demonstrates

high demand for our LiDAR technology for automotive and non-automotive

applications"

"The need for LiDAR SLAM-based mapping for digital transformation in various

industries has continued to grow and has never been more urgent," said Daiu Ko,

CEO of Kudan. "Under this new partnership with Innoviz, we look forward to

bringing the best mapping solution to the market in terms of use-case coverage

and return over investment across different vertical domains."

Innoviz and Kudan will collaborate on digital mapping projects in Japan and

globally. Innoviz will demonstrate its LiDAR solutions across various

applications at Automotive World Nagoya, Oct 26-28, 2022

[https://www.automotiveworld.jp/nagoya/en-gb.html ].

About Kudan Inc.

Kudan is a deep tech research and development company specializing in

algorithms for artificial perception (AP). As a complement to artificial

intelligence (AI), AP functions allow machines to develop autonomy. Currently,

Kudan is using its high-level technical innovation to explore business areas

based on its own milestone models established for deep tech which provide

wide-ranging impact on several major industrial fields.

For more information, please refer to Kudan's website at https://www.kudan.io/.

For more details, please contact us here. [https://www.kudan.io/contact ]

About Innoviz Technologies

Innoviz is a global leader in LiDAR technology, 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. For more information, visit innoviz-tech.com.

Join the discussion: Facebook

[https://www.facebook.com/pg/InnovizTechnologies/posts/?ref=page_internal ],

LinkedIn [https://www.linkedin.com/company/innoviz-technologies ], YouTube

[https://www.youtube.com/results?search_query=innoviz+technologies ], Twitter

[https://twitter.com/InnovizLiDAR ]

Forward Looking Statements

This announcement contains certain forward-looking statements within the

meaning of the federal securities laws, including statements regarding the

services offered by Innoviz, the anticipated technological capability of

Innoviz's products, the markets in which Innoviz operates and Innoviz's

projected future results. These forward-looking statements generally are

identified by the words "believe," "project," "expect," "anticipate,"

"estimate," "intend," "strategy," "future," "opportunity," "plan," "may,"

"should," "will," "would," "will be," "will continue," "will likely result,"

and similar expressions. Forward-looking statements are predictions,

projections and other statements about future events that are based on current

expectations and assumptions and, as a result, are subject to risks and

uncertainties. Many factors could cause actual future events to differ

materially from the forward-looking statements in this announcement, including

but not limited to, the ability to implement business plans, forecasts, and

other expectations, the ability to identify and realize additional

opportunities, and potential changes and developments in the highly competitive

LiDAR technology and related industries. The foregoing list of factors is not

exhaustive. You should carefully consider the foregoing factors and the other

risks and uncertainties described in Innoviz's annual report on Form 20-F filed

with the SEC on April 21, 2021, and other documents filed by Innoviz from time

to time with the SEC. These filings identify and address other important risks

and uncertainties that could cause actual events and results to differ

materially from those contained in the forward-looking statements.

Forward-looking statements speak only as of the date they are made. Readers are

cautioned not to put undue reliance on forward-looking statements, and Innoviz

assumes no obligation and does not intend to update or revise these

forward-looking statements, whether as a result of new information, future

events, or otherwise. Innoviz gives no assurance that it will achieve its

expectations.

Media Contact

Media@innoviz-tech.com

Investor Contact (US)                        

Rob Moffatt    

VP, Corporate Development & IR  

Innoviz Technologies      

+1 (203) 665-8644        

Investors@innoviz-tech.com    

Investor Contact (Israel)

Maya Lustig

Director, Investor Relations

Innoviz Technologies

+972 54 677 8100

Investors@innoviz-tech.com

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SOURCE: Innoviz Technologies