© Innoviz technologies Business | March 27, 2019
Innoviz raises $132M in funding to accelerate its production
Innoviz Technologies, a provider solid-state LiDAR sensors has raised USD 132 million in Series C funding. The round is marked by the entrance of new investors China Merchants Capital (SINO-BLR Industrial Investment Fund, L.P.), Shenzhen Capital Group and New Alliance Capital; and Israeli institutional investors Harel Insurance Investments and Financial Services and Phoenix Insurance Company.
This significant raise will support Innoviz's commercialisation of its InnovizPro and InnovizOne solid-state LiDAR solutions. The company is focusing expansion efforts in key automotive markets including the U.S., Europe, Japan and China. Innoviz also plans to expand its research and development efforts by investing in the buildout of next-gen products and software that will feature more cost reductions and improved performance, the company states in a press release. "We've experienced significant growth over the past year to meet increased demand for solid-state LiDAR. This fundraising enables many of the substantial commitments it takes to bring this technology to market at a massive scale — the scale required by Tier 1 suppliers and automakers leveraging LiDAR to deliver autonomous vehicles to the masses by 2021. We're excited to transition our production, manufacturing and research and development efforts into the next phase and continue to furnish the full stack of LiDAR hardware and software solutions to the industry," says Omer Keilaf, CEO and co-founder of Innoviz. Rather than focusing on bringing quick solutions to the market, Innoviz has chosen the path of developing a product and perception software through partnerships with original equipment manufacturers (OEMs) and Tier 1 suppliers, including Magna, HARMAN, HiRain Technologies and Aptiv, to assure full compliance with the highest automotive-grade production standards. "Among the dozens of LiDAR startups that have popped up in recent years, only a small handful have progressed far enough and demonstrated the capability to get to volume production and be selected for new vehicle programs including Innoviz," says Sam Abuelsamid, Navigant Research Principal Analyst, Mobility, in the release. "Sensor companies that can develop partnerships with established automotive suppliers that understand the integration, validation and production requirements to ensure automotive levels of product reliability and safety will also have an advantage in achieving scale." A partnership with Magna International, which also participated in the round, resulted in Innoviz's automotive-grade LiDAR, InnovizOne, and its computer vision software being selected by BMW for series production of vehicles starting in 2021 – an industry-first design win for solid-state LiDAR. Innoviz's new funding will assist in bringing this program, as well as additional automotive OEM design wins, to production at scale, as well as provide overall support for the expected company growth. The company will also ramp up production to meet demand for InnovizPro, its commercially available solid-state LiDAR that offers outstanding performance and value for automotive, mapping and other applications.
- NAND Flash revenue for 3Q20 up by only 0.3% QoQ due to weak server sales
- Kontron Industrial AI Platform for easy integration of Artificial Intelligence
- Intel to keep its number One in 2020
- Small Norwegian wireless sensor manufactured in Germany
- Trina Solar buys 1.2B units of 210mm monocrystal silicon wafers from Zhonghuan
GlobalWafers confirms takeover discussions with Siltronic The Taiwanese company says it is in advanced, near to final discussions on a takeover offer of German supplier of silicon wafers, Siltronic AG.
Covid-19 halts Chinese SK Hynix plant The discovery of an asymptomatic, but infected, employee brought SK Hynix’s plant in Chongqing, China to a halt on Sunday.
Murata to shut down Chinese production facility Saitama Murata Manufacturing, a subsidiary of Murata, will close its its coil production subsidiary Sheng Long TOKO Tech, located in Shenzhen, China, during December 2020
Antistat™ launch new product range of ESD Anti-fatigue matting Manufactured in the EU, Antistat’s new range of matting blends exceptional quality with durability offering a life span of up to 5 years.
Digi-Key inks new U.S. distribution partnership with MISCO Digi-Key Electronics has expanded its product portfolio to include a U.S. distribution partnership with MISCO, a resource offering complete audio solution services.
Arkema kickstarts capacity increase of fluoropolymer in China Arkema is starting up its 50% capacity increase of Kynar fluoropolymer for the lithium-ion battery business at its Changshu plant in China in December 2020, with the first commercial supplies for January 2021.
STMicro and YTO set up joint lab for smart agricultural equipment Semiconductor manufacturer STMicroelectronis, is teaming up with Chinese provider of agricultural and construction machinery YTO Group to establish a joint lab which will focus on R&D of electronic solutions for engine, vehicle, and agricultural controls in tractors.
12 new 1200V Hyperfast and Ultrafast Rectifiers from Vishay New Yorker Electronics has announced the availability of 12 new FRED Pt® Gen 5 1200 V Hyperfast and Ultrafast rectifiers from Vishay Semiconductor. The ideal choice for soft switched and resonant high frequency converters, it features a unique combination of low conduction and switching losses.
SKT's new AI chip changes the company's AI semiconductor business vision SK Telecom (SKT) has unveiled its new, self-developed, AI chip named SAPEON X220; a chip that, according to the company, will alter the company's AI semiconductor business vision.
Labour dispute at ST France – the conflict continues The strike at STMicroelectronics French operations continues. For the last four weeks, the site in Crolles has been on an indefinite strike following the company’s decision not to increase employee salaries this year.
Tachyum resumes hiring in Slovakia and USA Following a short halt due to COVID-19, the Silicon Valley and Slovakian semiconductor company says that it is restarting its hiring activities.
Intel CEO pens open letter to President-elect Biden Intel CEO Bob Swan is, in an open letter, urging the President-elect to invest in U.S. manufacturing.
Wafer acpacity by feature size shows strongest growth at <10nm IC capacity for leading-edge (<10nm) processes is expected to grow and become the largest portion of monthly installed capacity across the industry beginning in 2024, based on information in IC Insights’ Global Wafer Capacity 2020-2024 report.
Powell Electronics now Europe’s largest Positronic stockist Powell Electronics, the supplier of connectors and more for high-rel applications, is to become Europe’s largest stocking distributor of Positronic connectors following a franchise deal signed by the two companies.
Alps Alpine develops, starts shipping samples of HAPTIC Reactor Heavy Type Alps Alpine Co., Ltd. has developed the HAPTIC™ Reactor Heavy Type for powerful vibrations in touch feedback. Sample shipments, destined primarily for the automotive market, begin in October 2020, with a start to mass production expected in January 2021.
SkyWater and Multibeam form partnership to deploy Multibeam’s Innovative MEBL system Maskless lithography technology company, Multibeam Corporation, has disclosed a partnership to deploy Multibeam’s Multicolumn Electron-Beam Lithography (MEBL) system into SkyWater’s newly expanded fabrication facility in support the company roadmap to advance its manufacturing capabilities and accelerate growth.
Intel to keep its number One in 2020 Seven top-15 semiconductor suppliers forecast to show ≥22% growth this year with Nvidia expected to post a huge 50% increase, writes market researcher IC Insights in their latest report.
Trina Solar buys 1.2B units of 210mm monocrystal silicon wafers from Zhonghuan On 19 November 2020, Changzhou Trina Solar Energy and Tianjin Zhonghuan Semiconducto, signed a framework contract. Under the contract, Trina Solar intends to purchase 210mm monocrystal silicon wafers from Tianjin Huanou International Silicon Material Co., Ltd., a Zhonghuan subsidiary.
Kontron Industrial AI Platform for easy integration of Artificial Intelligence The Kontron Industrial AI Platform accelerates the use of AI algorithms for inference in industrial environments, such as quality control or predictive maintenance.
Luminar accelerates momentum with MobilEye design win Automotive lidar hardware and software supplier, Luminar Technologies, has struck a deal with Intel company, Mobileye, to supply Luminar lidar for the company’s Autonomous Vehicle (AV) Series solution in its next phase of driverless car development and testing.
Farnell boosts safety and hygiene portfolio with AMETEK Land AMETEK Land boasts a comprehensive range of non-contact temperature monitors and analysers including the new VIRALERT 3 Human Body Temperature Screening System for back-to-work safety checks.Load more news