Innoviz Technologies Ltd. introduces a next-generation sensor to its product line - the Innoviz360. After delivering on its InnovizTwo LiDAR promises, the company continues to demonstrate its ability to innovate and launch new product lines with the Innoviz360. This third-generation LiDAR product will be offered alongside the company's perception software, which converts the LiDAR's raw point cloud data into high-quality outputs for outstanding object detection, classification and tracking.

The new Innoviz360 HDLiDAR sensor represents a breakthrough that leapfrogs traditional, standard-resolution spinner solutions that are performance limited, expensive, big and unreliable. Unlike traditional spinner solutions that are performance limited with only up to 128 scanning lines, the new, lightweight, Innoviz360 LiDAR allows multiple scanning software configurations with up to 1280 scanning lines (10x) at a cost-effective and durable solution than traditional 360 LiDARs. Innoviz360'sHD, wide FoV (360°x64°) and reduced cost will help overcome major challenges in achieving full automation in scale for L4-L5 automotive applications, such as robotaxis, shuttles and trucks, and opens new market opportunities for Innoviz beyond the automotive space.

These industries include logistics, mapping, industrial and smart infrastructures, which are expected to provide new meaningful revenues for the Company starting in 2023. The company expects samples of its Innoviz 360 HD LiDAR to be available in fourth quarter 2022. The new Innoviz360 LiDAR can serve platforms such as the NVIDIA DRIVE, an end-to-end development platform and reference architecture for designing and safely deploying autonomous vehicles.