Innoviz Launches Low-Cost LiDAR System for Autonomous Cars

Israel-based LiDAR startup Innoviz Technologies Ltd. announced the launch of InnovizPro, a standalone, solid-state, MEMS-based scanning LiDAR system, at the Consumer Electronics Show (CES) in Las Vegas Tuesday.

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LiDAR is a imaging method that uses lasers and sensors to measure the distance from an object, creating 3D representations of the surrounding environment. The technology can be used to help autonomous vehicles “see,” but the high cost of these systems has proved prohibitive for many automakers.

Innoviz. Photo: Innoviz

The InnovizPro 3D-scanning system is marketed at a significantly lower price than market average, Innovize said in a statement, adding that with InnovizPro, the company is looking to enter additional markets, such as industrial automation, security and surveillance, and logistics.

Founded in 2016 and headquartered in Kfar Saba, a town to the northeast of Tel Aviv, Innoviz develops low-cost, small-size LiDAR systems. The company's automotive-grade mass-market LiDAR offering called InnovizOne, will be available in 2019. Innoviz employs 110 people.

InnovizPro features a high frame rate, high angular resolution and wide field of view, enabling it to create a dense, accurate 3D visualizations. The system can detect objects at a range of up to 150 meters in conditions of bright light, darkness, and changing weather.

"We are addressing a major need for high-resolution scanning technology at lower cost,” Omer Keilaf, the CEO and co-founder of Innoviz, said in a statement. “While we continue to work towards automotive-grade LiDAR with InnovizOne, our partners can order InnovizPro now in order to gain access to the most advanced LiDAR currently available." Mr. Keilaf added.

In September, Innoviz announced a $65 million Series B funding round, which brought the company’s total equity funding to $82 million. Among the investors in that round were Innoviz’s strategic partners, U.K.-based autopart manufacturer Delphi Automotive PLC and Canada-based automotive supplier Magna International.

"The manufacturing of low-cost LiDARs is almost a stopgap in the industry. The low-cost products offered don't perform well, and the advanced products are very expensive,” Mr. Keilaf told Calcalist in September.