- Innoviz adds General Laser to its global distributor
ecosystem to accelerate LiDAR sales across European markets
- Innoviz's LiDAR products, including InnovizOne, InnovizTwo
and Innoviz360, will strengthen General Laser's LiDAR portfolio,
offering customers the highest-performing LiDAR products for
multiple applications
- The European non-automotive LiDAR market is forecast to
grow at a compounded annual growth rate of approximately 25 percent
over the next six years, reaching nearly $2
billion USD by 2029
TEL
AVIV, Israel and VIENNA, Feb. 22,
2023 /PRNewswire/ -- Innoviz
Technologies (Nasdaq: INVZ) (the "Company" or "Innoviz"), a
technology leader of high-performance, automotive-grade LiDAR
sensors and perception software, and General Laser, a leading
European provider of products and services in the fields of lasers,
robotics, special machinery and more, today announced their
collaboration to drive sales for Innoviz's LiDAR solutions in the
European market. This is Innoviz's first distribution agreement in
Europe.
General Laser will utilize its network of over 70 resellers and
direct relationships with customers across Europe to accelerate the adoption of Innoviz's
LiDAR solutions in General Laser's service territory across
Europe. General Laser will help
expand Innoviz's sales efforts into various industrial market
segments, including construction, agriculture, mobile robotics,
drones, surveillance and more, driving near-term revenues.
"As Innoviz continues to disrupt and lead the LiDAR space, it is
important to build out our ecosystem of distributor partners that
will support our global growth," said Tali Chen, Chief Business
Officer at Innoviz. "General Laser's strong customer base
across European markets and industries, paired with its deep
technical understanding of LiDAR products, ensures that we will
meet the growing demand for high-performance LiDAR solutions across
Europe."
With a network of over thirty partners and distributors, this
partnership supports the company's growth as a worldwide leader in
high-performance LiDAR technology. Through this new European
distributor partner, Innoviz will make its full portfolio of
high-performing LiDAR products available, including its first and
second generation sensors, InnovizOne and InnovizTwo, as well as
Innoviz's newest and revolutionary spinning sensor, Innoviz360,
announced earlier this year.
"We're committed to providing our customers with best-in-class
LiDAR products to meet demand across a variety of use-cases.
Innoviz's LiDAR sensors fill a critical gap in our existing LiDAR
product portfolio by offering enhanced range and high-resolution at
a price point customers want, allowing us to engage with new
customers in adjacent verticals," said Ivan Tochev, general manager at
General Laser.
The European non-automotive LiDAR market is forecast to grow at
a compounded annual growth rate of approximately 25 percent over
the next six years, reaching nearly $2
billion USD by 2029. Innoviz has built an ecosystem of more
than 30 partners and distributors across North America, Asia-Pacific, Europe, the Middle
East and Africa. For more
information on Innoviz worldwide distributors and global product
availability, visit www.innoviz.tech/distributors.
About General Laser
General Laser was founded in 1999 by the brothers Dimitre and Ivan Tochev following many years of
practice and experience with various airplanes, mechanical
engineering, laser technology, and electronics. Our has been
causing sensations with its range of lasers, illuminating
engineering, prototypes, controls, electronics and avionics, RTK
GNSS receivers, and LiDARs for twenty years. Our philosophy has
always been to offer solutions as simple and elegant as possible,
even for the most complicated technical tasks. This approach has
led to several worldwide patents of inventions. Our know-how and
versatile knowledge allow us to look from completely different
points of view when trying to solve "unsolvable" problems. For more
information, visit general-laser.at.
General Laser media contact:
Lalita Kumari
Digwal
Chief of Business Development
+43 1 8902002 104
l.digwal@general-laser.at
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.
Join the discussion: Facebook, LinkedIn, YouTube,
Twitter
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 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. 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.
Logo -
https://mma.prnewswire.com/media/1496323/Innoviz_Technologies_Logo
Logo -
https://mma.prnewswire.com/media/2007580/General_Laser_Logo.jpg
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
View original
content:https://www.prnewswire.com/news-releases/innoviz-technologies-and-general-laser-sign-distribution-agreement-to-accelerate-lidar-adoption-in-europe-301753022.html
SOURCE Innoviz Technologies