Innoviz Technologies, Ltd. has revealed a new perception platform for its global automotive customers. InnovizAPP, which stands for “Automotive Perception Platform,” includes state-of-the-art, automotive-grade hardware and software for object classification. Currently, the company is shipping InnovizAPP to automakers in an effort to help them accelerate their autonomous vehicle programs.
“InnovizAPP is a true technology breakthrough, offering an adaptable automotive-grade chip and platform that can be incorporated into existing vehicles,” said Omer Keilaf, CEO and Co-Founder of Innoviz. “We developed it in response to requests from major automakers, and our customers in Asia, Europe, and North America are already optimizing their AV programs with this platform, which is rapidly becoming the gold standard for customer validation.”
InnovizAPP leverages data from Innoviz’s LiDAR sensors, coupled with proprietary AI algorithms, to analyze the point cloud and estimate an object’s speed. The software can accurately detect and classify objects in any 3D driving scene up to 250 meters away, including cars, trucks, motorcycles, pedestrians, and other road users. According to Innoviz, it also executes perception algorithms in real-time, detecting and classifying pixels as collision relevant or non-collision relevant.
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“The InnovizAPP hardware provides an automotive-grade reference design based on low-cost automotive-grade components,” the company said in a statement. “It connects to existing vehicle systems and enables real-time perception in a simple plug-and-play manner, allowing automakers to test and learn how to build their own autonomous driving systems.”
Innoviz Goes Public
The release of InnovizAPP comes as the company is expected to go public under the ticker symbol “INVZ” on NASDAQ in 2021. In December, Innoviz entered into a definitive agreement with Collective Growth Corporation, which would result in the company being publically listed. All Innoviz shareholders will retain 100 percent of their equity holdings in the public company. Currently, Innoviz has about 300 employees globally.
“Collective Growth sought to advance industrial practices and drive the evolution of the auto sector, a mission well served by this merger,” said Bruce Linton, Chairman and CEO of Collective Growth, at the time of the announcement. “Innoviz brings a winning combination of high-performance LiDAR technology, commercial partnerships with leading OEMs and Tier 1 suppliers, and a dynamic management team.”