Innoviz teams with Nvidia on perception software

Israeli laser (LiDAR) sensor developer Innoviz Technologies Ltd. (Nasdaq: INVZ) has reported that during the CES exhibition currently being held in Las Vegas, it will present how its technology operates smoothly with Nvidia’s DRIVE AGX Orin platform and offers software-based features designed to accelerate autonomous driving applications.

Innoviz says that the collaboration represents a major leap forward in the industry’s transition to AI-based systems and higher performance and that the company’s software allows real time processing and perception of the vehicle’s environment and enables exceptional object detection, classification, and tracking capabilities. This solution is poised to improve safety and performance across autonomous driving and advanced driver-assistance systems (ADAS). “At Innoviz, we are relentlessly focused on pushing the boundaries of autonomous driving technology to ensure safer and more reliable systems for the future of mobility,” said Innoviz CEO Omer Keilaf. “By leveraging the Nvidia DRIVE Orin platform, we will be able to offer a powerful combination of cutting-edge LiDAR sensors and perception software, enabling automakers to scale from L2+ ADAS all the way to fully autonomous vehicles.”

Innoviz began trading on Wall Street in 2021 through a SPAC merger at a company valuation of $1.4 billion. Like many of the companies that completed SPAC merger at the peak of the tech bubble in 2021, Innoviz lost most of its value but has recovered strongly from its low-point in November following a collaboration with Mobileye and new revenue from engineering services. The company’s share price is currently 20% higher giving a market cap of $403 million.

Published by Globes, Israel business news – en.globes.co.il – on January 7, 2025.

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