Innoviz Technologies has closed its Series C funding round with $170m secured.
It brings the provider of LiDAR sensors and perception sofwtare’s total funding to £198m.
Innoviz confirmed the funding will support several key initiatives, including the enhancement of its perception software which provides vehicles with a deep understanding of the 3D driving scene, including superior object, classification, segmentation and tracking technology.
It aims to complement its LiDAR hardware offerings.
Additionally, Innoviz says it will leverage the latest funding to benefit broader business activities, including accelerating its path to mass production and also the commercialisation of its LiDAR solutions.
Omer Keilaf, CEO and co-founder, commented: “Innoviz’s track record is filled with forward momentum that is further reinforced by the new funding and these two valuable additions to our team. In a short amount of time we have successfully created an industry-leading LiDAR solution from the ground up and secured partner and customer wins to push it into series production for one of the top automakers in the world.”
He continued: “Now, to retain our leadership position, we can focus on what’s next for us and our customers – accelerating our path to mass production, commercializing our perception software offering and delivering next-generation solutions that set the bar even higher through further improvements in performance, size and cost. This solidifies our ability to support the enormous autonomy efforts underway across the globe; to enrich our product pipeline; to collaborate across automotive, mapping, robotics and drone/UAV industries and fully execute on our vision.”