Innoviz Technologies Ltd. (Nasdaq: INVZ) (the “Company” or “Innoviz”), a leading provider of high-performance, reliable and affordable LiDAR sensors and perception software, introduces a next-generation sensor to its product line – the Innoviz360.
After delivering on its InnovizTwo LiDAR promises, Innoviz continues to demonstrate its ability to innovate and launch new product lines with the Innoviz360. This third-generation LiDAR product will be offered alongside Innoviz’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’s HD, 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 r evenues for the Company starting in 2023. Innoviz expects samples of its Innoviz 360 HD LiDAR to be available in Q4 2022.
“After successfully solving the limitations of LiDARs for the passenger vehicle industry with InnovizTwo, we are excited to bring the disruption to the spinner category with our new Innoviz360 HD LiDAR”, said Innoviz Co-Founder and CEO Omer Keilaf. “With its high-resolution and wide field of view, the new architecture breaks through the performance and cost limitations of traditional and standard-resolution 360 spinners which will support not only the needed growth in the automotive market, but also in emerging markets such as smart infrastructure, logistics and Industrial”.
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 .
“New solutions and innovations such as the Innoviz360 running on our open and scalable DRIVE platform can help the industry achieve truly autonomous transportation , ” said Gary Hicok, Senior Vice President of Engineering at NVIDIA .
- Innoviz360 is a new, patent-pending HD LiDAR architecture that represents a breakthrough in performance versus traditional standard resolution spinners.
- The new Innoviz360 features 360°x64° degree coverage, 0.05°x0.05° resolution, and up to 1280 scanning lines and 300m range while cutting down the cost significantly versus other solutions.
- Featuring the innovative automotive-grade LiDAR architecture that Innoviz is known for, Innoviz360 is compatible with Shuttles, Robotaxis and Trucks in the automotive space (L4-L5) as well as many non-automotive applications.
- The new product complements InnovizOne and InnovizTwo, front looking LiDARs that are targeting high level of automation and are optimized for passenger vehicles (L2-L3).
- Innoviz360 is expected to generate revenues starting in 2023. Innoviz360 adds new total addressable market (TAM) for non-automotive applications which is expected to be $20B by 2030, in addition to $55B TAM for automotive applications.