Wednesday, September 23rd | 5 Tishri 5781

Subscribe
March 5, 2019 10:54 am

Report: Israel’s Innoviz Raising $100 Million in Private Funding

avatar by Reuters and Algemeiner Staff

The homepage of the Innoviz Technologies’ website. Photo: Screenshot.

Innoviz Technologies, an Israeli maker of laser-based lidar sensors for self-driving cars, is raising $100 million in private investment at a company valuation of $500 million, the Calcalist financial news website said on Tuesday.

Among the lead investors in this round is a large Chinese investment firm, the website said.

When contacted by Reuters, Innoviz CEO Omer Keilaf declined to comment on the report.

Founded in 2016, Innoviz has raised $82 million to date from investors like automotive suppliers Magna International and Aptiv and Chinese venture capital firm Glory Ventures.

Related coverage

September 23, 2020 10:55 am
0

Israel Poised to Tighten Lockdown as Daily COVID-19 Tally Soars to 6,923

  JNS.org - Israel set another negative record on Wednesday, as the Health Ministry pegged the number of new coronavirus cases...

Lidar sensors are seen by most experts as a crucial element for full self-driving cars.

Last year the company signed a deal with partner Magna to supply lidar to BMW. It also formed a partnership with Beijing-based auto products supplier HiRain Technologies to provide lidar to Chinese automakers.

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

Algemeiner.com

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.