Innoviz and Kudan Announce Partnership for LiDAR-Based Geospatial Mapping Solution Across Various Industries and Use Cases

TEL AVIV, Israel and TOKYO, October 26, 2022 /PRNewswire/ — Innoviz Technologies (Nasdaq: INVZ) (the “Company” or “Innoviz”), a technology leader in high-performance, automotive-grade LiDAR sensors and perception software, today announced its partnership with Kudan (Tokyo Stock Exchange Securities Code: 4425, hereinafter “Kudan”). Kudan’s perception software enables machines to generate 3D maps of surrounding environments and gain autonomous mobility based on Innoviz’s LiDARs.

The cooperation between Innoviz and Kudan addresses the growing need for 3D digital mapping solutions leveraging Simultaneous Localization and Mapping (SLAM) technology. Since autonomous decisions depend on the quality of information, the perception of the environment is critical for machines. Coupled with Innoviz’s LiDAR scanning, SLAM technology enables dynamic mapping of the environment with accurate, high-density and colorized generation of 3D point clouds. With both companies’ global presence and strong networks, this partnership is a key enabler for a wide range of uses, including HD maps, robotics, construction, surveying and “digital twinning” applications and of an “industrial metaverse”.

In addition to enabling non-automotive applications, Kudan’s SLAM software also gives autonomous vehicles the ability to view and act on changes in their environment in real time providing highly accurate and reliable results that allow vehicles to react. to their environment. Innoviz’s high-performance LiDARs provide a rich 3D point cloud at distances up to 250 meters. Resistant to sunlight and weather conditions, Innoviz LiDARs contribute to the accuracy and reliability of Kudan’s SLAM software for safe automotive and non-automotive applications

“Innoviz is excited to further our mapping collaboration both in automotive applications and beyond with the Kudan SLAM solution,” said Omer Keilaf, co-founder and CEO from Innoviz. “Kudan’s SLAM software and associated tools integrate seamlessly with Innoviz’s products and we see great opportunities in a number of applications, including HD mapping for autonomous driving, robotics, geospatial mapping and surveying. We also see a pull in Asia which demonstrates strong demand for our LiDAR technology for automotive and non-automotive applications.”

“The need for SLAM LiDAR-based mapping for digital transformation in various industries has continued to grow and has never been more urgent,” said Daiu Ko, CEO of Kudan. “As part of this new partnership with Innoviz, we look forward to delivering the best mapping solution on the market in terms of use case coverage and ROI across different verticals.”

Innoviz and Kudan will collaborate on digital mapping projects in Japan and globally. Innoviz will present its LiDAR solutions through various applications at Nagoya Automotive World, October 26-28, 2022.

About Kudan Inc.

Kudan is a high-tech research and development company specializing in artificial perception (AP) algorithms. In addition to artificial intelligence (AI), AP functions allow machines to develop their autonomy. Currently, Kudan uses its high-level technical innovation to explore business areas based on its own established deep technology stage models that have far-reaching impact on several major industrial fields.

For more information, please visit Kudan’s website at https://www.kudan.io/.

For more details, please contact us here.

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 “sees” better than a human driver and reduces the risk of error, meeting the automotive industry’s highest expectations for performance and safety. Operating across the United States, Europeand Asia, Innoviz has been selected by internationally recognized premium car brands for use in consumer vehicles as well as other commercial and industrial leaders for a wide range of use cases. For more information, visit innoviz-tech.com.

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Forward-looking statements

This announcement contains certain forward-looking statements within the meaning of 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 projected future results of Innoviz. These forward-looking statements are generally identified by the words “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity “, “plan,” “may,” “should,” “will,” “would,” “will,” “continue,” “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, therefore, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements contained 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 changes and developments in the you 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 place undue reliance on forward-looking statements, and Innoviz undertakes no obligation and does not intend to update or revise such forward-looking statements, whether as a result of new information, future events or otherwise. Innoviz does not guarantee that it will meet its expectations.

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SOURCEInnoviz Technologies

Margie D. Carlisle