Innoviz Technologies enters software development agreement for LiDAR perception

Innoviz Technologies Ltd. (NASDAQ: INVZ) announced a software development agreement with an autonomous driving technology company to evaluate on-sensor LiDAR perception capabilities for its InnovizTwo platform.

The collaboration will assess perception software that operates directly on the LiDAR sensor rather than relying on a vehicle's central processing system. This approach aims to provide standardized outputs that function independently of the vehicle's broader processing architecture.

Under the agreement, the parties will develop a plan for embedding perception capabilities within Innoviz's existing LiDAR supply relationship. The evaluation focuses on generating additional perception functions that may integrate directly into the partner's autonomous vehicle systems.

"Being selected to evaluate perception software on top of an existing LiDAR supply role is a strong signal that what we have built is being recognized across the full autonomy stack," said Omer Keilaf, CEO and Founder of Innoviz Technologies.

The agreement covers an initial evaluation phase. Any subsequent development phases would require separate written agreements between the parties. Innoviz noted that there are no guarantees the evaluation will advance beyond the initial phase or result in further development arrangements.

Innoviz Technologies, based in Tel Aviv, Israel, supplies LiDAR sensor platforms to automotive manufacturers. The company's sensors are designed to provide 3D sensing capabilities for autonomous vehicle applications.

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