Innoviz and Outsight Announce Partnership to Accelerate LiDAR Adoption in Smart Cities and Industrial applications
Partnership will combine Innoviz's high-performance LiDAR, InnovizOne, with Outsight's processing software solution, allowing seamless integration of 3D localization and perception technology for smart infrastructure, vehicle and industrial applications
PARIS and TEL AVIV, Israel, Dec. 14, 2022 /PRNewswire/ -- Innoviz Technologies (Nasdaq: INVZ) ("Innoviz"), a technology leader of high-performance, solid-state LiDAR sensors and perception software, today announced its partnership with Outsight. Outsight's Spatial Intelligence Software, the company's unique, real-time edge processing and cloud capability platform, offers a plug-and-play solution for effectively integrating 3D LiDAR data into any infrastructure, industrial or vehicle application.
Outsight's Software, together with Innoviz's LiDAR products will aim to facilitate and accelerate the adoption of 3D LiDAR technology beyond the ADAS market -
- Infrastructure applications: Intelligent transportation systems (ITS), security and people flow monitoring
- Commercial vehicle and robot applications: Construction equipment, logistics and service robotics
- Industrial applications: Volume measurement, industrial equipment, safety and agriculture
Innoviz's high-performance LiDAR sensors meet the automotive industry's strictest requirements for performance and safety. They are purpose-built to be rugged, affordable, reliable, power efficient, lightweight, high-performing and seamlessly integrable, and are ideally suited to enable a wide range of non-automotive use-cases that require mature solutions.
Outsight's Spatial Intelligence Software makes LiDAR technology easier to use in any project, both in real-time (edge processing) and the cloud, including essential features like LiDAR SLAM, object detection and tracking, classification and segmentation. As a recognized pioneer and leader of the LiDAR processing software category and a founding member of the LiDAR Coalition, of which Innoviz is also a founding member, Outsight's solutions have been widely embraced in a number of markets and dozens of different use cases throughout Europe, the United States, Asia and the Middle East.
"We aren't in the early days of LiDAR anymore. At that time demonstration-level sensor prototypes and research-level algorithms were sufficient to ignite the market and gave birth to the current leaders in LiDAR hardware and software. Non-automotive markets that will deploy LiDAR at scale require a whole new level of maturity, with high-performing and reliable hardware like Innoviz's LiDAR sensors, combined with scalable and easy to use software solutions like Outsight's." said Raul Bravo, President Co-Founder of Outsight. "We're glad to be working with Innoviz on innovative offerings thanks to the complementary technology and talent of both organizations."
"Our award-winning LiDAR technology is already being used to monitor pedestrian safety in Los Angeles, improve operational efficiency and safety across shipping ports in China, automate crane systems on construction sites in Japan and more," said Omer Keilaf, Co-Founder and CEO of Innoviz. "We're excited to partner with Outsight to continue to accelerate adoption of our LiDAR technologies and power use cases also across ITS, Smart infrastructure, smart industrial and more."
Outsight will demonstrate the collaboration with Innoviz LiDAR during CES 2023 at Innoviz's booth #6553 during the show dates, January 5-8, and will present the use-case with Innoviz LiDAR on Wednesday, January 5, 2pm, at Innoviz's booth #6553, followed by a Q&A session.
Outsight develops real-time 3D LiDAR perception solutions. Our mission is to make LiDAR-based spatial intelligence become plug-and-play, so it can be used by application specialists in any market. Using any LiDAR with our pre-processing capabilities allows smart machines and smart cities to achieve an unprecedented level of understanding of their environment. We believe that accelerating the adoption of LiDAR technology with easy-to-use and scalable software will highly contribute to create transformative solutions and products that will make a smarter and safer world. For more information, visit outsight.ai.
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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.
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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, Innoviz's forward-looking order book, 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. "Forward-looking order book" is the cumulative projected future sales of hardware and perception software based on current estimates of volumes and pricing relating to a project. Many factors could cause actual future events, and, in the case of our forward-looking order book, actual orders, 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 convert design wins into definitive orders and the magnitude of such orders, 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 is not exhaustive. You should carefully consider such risk and the other risks and uncertainties described in Innoviz's annual report on Form 20-F filed with the SEC on March 30, 2022 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.
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Released December 14, 2022