Innoviz and Exwayz Collaborate on Turnkey LiDAR-based Perception Solutions for Global Customers

Rhea-AI Summary

Innoviz Technologies (NASDAQ: INVZ) has announced a collaboration with Exwayz to showcase new lidar-based perception solutions for non-automotive applications. The integration of InnovizOne LiDAR with Exwayz's plug-and-play software enables advanced 3D mapping, localization, and object detection. Exwayz will demonstrate this technology at CES on January 7, 2023. This partnership aims to expand Innoviz's market reach across various sectors, including logistics and security, highlighting its commitment to developing innovative LiDAR solutions for diverse global customers.

Positive

• Collaboration with Exwayz enhances Innoviz's product offerings in various sectors.
• Integration of InnovizOne LiDAR and Exwayz's software provides advanced mapping and localization capabilities.
• Partnership expected to unlock near-term revenue opportunities for Innoviz.

Negative

• None.

- Innoviz and Exwayz are collaborating to demonstrate new lidar-based perception solutions for various non-automotive applications.

- Innoviz is integrating its InnovizOne LiDAR with Exwayz's LiDAR-based plug-and-play perception software to enable precise 3D mapping, localization and re-localization, as well as object detection and classification.

- Exwayz will present its use-case with InnovizOne LiDAR at the Consumer Electronics Show (CES) on January 7, 2023, 12:00pm, at Innoviz's booth #6553.

TEL AVIV, Israel and PARIS, Jan. 4, 2023 /PRNewswire/ -- Innoviz Technologies (NASDAQ: INVZ) (the "Company" or "Innoviz"), a technology leader of high-performance, solid-state LiDAR sensors and perception software, announced today that it is collaborating with Exwayz, a Parisian deep-tech company developing real-time 3D LiDAR processing software to demonstrate new LiDAR-based perception solutions for various non-automotive applications.

Exwayz provides plug-and-play perception software to enable LiDAR-based 3D mapping, localization and re-localization, as well as object detection and classification for autonomous system manufacturers. Innoviz's collaboration with Exwayz is intended to add Exwayz's plug-and-play perception software to Innoviz's existing perception software capabilities, creating a turnkey solution for the development and demonstration of Innoviz's LiDAR technology across a wide range of applications, including: logistics, construction, security, and last-mile delivery services, such as LOXO's zero-emission vehicles where Innoviz is the LiDAR provider.

Innoviz's suite of LiDAR products enable safe autonomy by bringing unparalleled optics, seamless design and cutting-edge technology to market at a competitive price. Innoviz's collaboration with Exwayz is expected to further unlock the potential utilization of its LiDAR technology across a wide range of global customers for near-term revenue opportunities.

"Tested using to the most rigorous automotive standards, our LiDAR sensors are purpose-built to be rugged, affordable, and seamlessly integrable into the autonomous vehicle designs of global customers," said Omer Keilaf, Co-Founder and CEO of Innoviz. "Leveraging Exwayz's customer-centric support and products, we look forward to expanding the use of superior LiDAR-based perception solutions across a wide range of applications."

"We're proud to work alongside Innoviz to demonstrate turnkey LiDAR-based perception solutions for autonomous delivery vehicles and other use-cases around the world," said Hassan Bouchiba, Co-Founder and CEO of Exwayz. "InnovizOne is an industry-leading LiDAR solution with impeccable resolution and range that our customers can leverage across multiple applications to dramatically improve efficiency and safety."

Exwayz will present its use-case with InnovizOne LiDAR at the Consumer Electronics Show (CES) on January 7, 2023, 12:00pm, at Innoviz's booth #6553. Additional live demonstrations of Exways' SLAM technology with InnovizOne LiDAR sensor will be available in booth #5400, (Business France booth). Exwayz will perform demonstrations with InnovizOne LiDAR mounted on a cart at LVCC, as well as outside the event hall with InnovizOne LiDAR mounted on a car. These live demonstrations will show how Exwayz SLAM technology is able to accurately self-localize a mobile system and build high-resolution maps in real-time.

About Exwayz

Founded in 2021, Exwayz is a French startup currently based at Station F in the HEC incubation program. Exwayz simplifies the integration of 3D LiDAR sensors in autonomous systems by providing embedded software for mobile robots. It is the first solution to offer navigation and detection, classification and tracking of objects and obstacles in real time. The Exwayz solution is compatible with all 3D LiDAR sensors on the market and is adapted to all mobile robotics use cases. It achieves unparalleled levels of robustness and accuracy through its cutting-edge innovations in simultaneous localization and mapping (SLAM) and 3D vision. For more information, visit www.exwayz.fr.

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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, and the markets in which Innoviz operates. 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 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.

Video - https://www.youtube.com/watch?v=hLvjOAYZawo
Logo - https://mma.prnewswire.com/media/1496323/Innoviz_Technologies_Logo.jpg

Media contact (Exwayz): 
contact@exwayz.fr

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

FAQ

What is the significance of the partnership between Innoviz and Exwayz?

The partnership aims to enhance Innoviz's lidar technology applications across multiple sectors, potentially leading to new revenue opportunities.

When will Exwayz demonstrate its use-case with InnovizOne LiDAR?

Exwayz will present its use-case at CES on January 7, 2023, at Innoviz's booth #6553.

What applications are targeted by the Innoviz and Exwayz collaboration?

The collaboration targets applications in logistics, construction, security, and last-mile delivery services.

How does Innoviz's technology stand out in the lidar market?

Innoviz's technology is designed to meet rigorous automotive standards, offering high performance and seamless integration into autonomous systems.

What is the expected outcome of Innoviz's collaboration with Exwayz?

The collaboration is expected to expand Innoviz's market reach and provide advanced lidar-based solutions for global customers.