With Innoviz LiDAR Integrated in Sensagrate's SensaVision Platform, a Variety of Smart City Applications Are Expected to Become Available in Cities, Including LiDAR- Real-Time Traffic Monitoring, Pedestrian Safety, and MoreTEL AVIV, Israel and SCOTTSDALE, Arizona, May 18, 2021 — (PRNewswire) — Innoviz Technologies (Nasdaq: INVZ), a technology leader of high-performance, solid-state LiDAR sensors and perception software, and Sensagrate, a leader in Smart City technology, data analytics, and reporting products that enable real-time traffic, pedestrian and cyclist safety on roadways, today announced a partnership to integrate InnovizOne LiDAR sensors with SensaVision, Sensagrate's computer vision software.
The addition of InnovizOne to the SensaVision suite will enable a variety of applications that improve pedestrian and automobile safety, preventing near-miss collisions at intersections, collecting unique data for root cause analysis of pedestrian related incidents through intelligent data collection and predictive analytics. LiDAR-based intelligent traffic decisions will improve traffic flow and reduce traffic congestion, leading to a decrease in fatalities and emissions. We believe the collection of precise data, derived with InnovizOne on Sensagrate's system, will advance city planning by allowing predictive models to be built over time that help cities have safer roads while reducing congestion.
"InnovizOne's uniform high resolution of 0.1x0.1 over the entire Field of View allows SensaVision to track vehicles, pedestrians and obstacles over a wide area with high resolution," said Darryl Keeton, President of Sensagrate. "We found the range and point density of InnovizOne uniquely suited to the SensaVision smart and safe intelligent transportation system solution because we can angle the LiDAR for optimal coverage. The size and industrial design of InnovizOne is a perfect fit for integrating sensors into traffic signals with ease."
"Innoviz is very happy to have been chosen by Sensagrate for their Smart City and Smart Transportation applications," said Omer Keilaf, Co-Founder and CEO of Innoviz. "Our LiDAR sensors and perception software support a diverse set of applications across a wide array of verticals. We are thrilled to partner with Sensagrate to advance the safety of future cities starting today."
About Innoviz Technologies
Innoviz is a leading provider of technology that will put autonomous vehicles on roads. Innoviz's LiDAR technology can "see" better than a human driver and meets the automotive industry's strict expectations for performance, safety and price. Selected by BMW for its fully autonomous car program, Innoviz's technology will be deployed in BMW's consumer vehicles. Innoviz is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, and others. For more information, visit www.innoviz.tech.
Sensagrate is a computer vision software company that provides traffic AI solutions on the edge to bring state-of-the-art innovation solutions that provide real-time, predictive analytics to decrease congestion and emissions, and improve public safety. SensaVision intelligent transportation system products include computer vision software, computer vision on the edge, and traffic and safety data and analytics. For more information, visit www.sensagrate.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 and Innoviz's projected revenue and other future financial and operational 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 identify and realize additional opportunities, and potential changes and developments in the highly competitive LiDAR technology and related industries. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Innoviz's annual report on Form 20-F filed with the SEC on April 21, 2021 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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