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TEL AVIV, Israel and SCOTTSDALE, Ariz., Sept. 14, 2022 /PRNewswire/ -- Innoviz Technologies (Nasdaq: INVZ) (the "Company" or "Innoviz"), a technology leader of high-performance, solid-state LiDAR sensors and perception software, and Sensagrate, a leader in smart city technology that enables real-time traffic, pedestrian and cyclist safety on roadways, announced a joint smart intersection corridor pilot at UCLA.
Sensagrate integrated InnovizOne LiDARs with SensaVision, a computer vision platform, and is fusing them with data from radar and camera sensors to create a smart corridor at an intersection at the UCLA campus. Going forward, Innoviz and Sensagrate will tackle smart city challenges across Arizona through partnerships with government transportation departments to pilot emerging technology using LiDAR sensors.
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The SensaVision Platform, enabled by InnovizOne LiDARs, gathers data on traffic volume and other roadside safety metrics for root cause analysis of pedestrian-related incidents, improving pedestrian and automobile safety. The smart corridor will test smart sensing for intersections powered by Innoviz and Sensagrate via (I2V) and vehicle-to-everything (V2X) applications, all powered by NVIDIA jetson edge computing. In addition to the sensors on the infrastructure, the platform is further connected with UCLA's autonomous vehicle, enhancing the V2X analytics. Both Innoviz and Sensagrate are excited for the site results and insights ahead of October, which is National Pedestrian Safety Month.
The InnovizOne LiDAR is ideal for smart city applications because it provides accurate data during adverse weather and lighting conditions, and its robust design ensures durability over time. The InnovizOne LiDAR does not impinge on privacy, unlike other sensors that may have difficulty complying with GDPR and other privacy laws.
"Innoviz is excited to advance our partnership with Sensagrate and demonstrate the value of our InnovizOne LiDAR for smart city applications at one of the top universities in the world," said Omer Keilaf, Co-Founder and CEO of Innoviz. "Innoviz and Sensagrate both firmly believe that LiDAR-based intelligent traffic decisions will improve traffic flow and reduce traffic congestion, leading to a decrease in road fatalities and carbon emissions. We're looking forward to scaling this solution across the US and globally."
"The Innoviz One LiDAR provides a unique and high quality resolution for their field of view and range. This is critical as we look to detect different objects in various settings and at ranges greater than 100 meters," said Darryl Keeton, Founder and President of Sensagrate. "Innoviz has provided a great product and is proving its strong partnership abilities to promote safety. We are excited to witness how the InnovizOne and SensaVision integration at the UCLA pilot site can promote smarter and safer streets."
This news builds on the Sensagrate and Innoviz partnership announced in 2021. Innoviz's traction in smart city applications is further demonstration of its innovation and expanding scope of product coverage following its significant automotive design win with CARIAD SE for Volkswagen Brands in August 2022.
About Sensagrate
Sensagrate is a computer vision software company that provides traffic AI solutions on the edge to bring state-of-the-art innovation solutions that provide real-time, predictive analytics to decrease congestion and emissions, and improve public safety. SensaVision intelligent transportation system products include computer vision software, computer vision on the edge, and traffic and safety data and analytics. For more information, visit www.sensagrate.com.
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 "see" better than a human driver and reduce the possibility of error, meeting the automotive industry's strictest expectations for performance and safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected by internationally-recognized premium car brands for use in consumer vehicles as well as by 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 the 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 Innoviz's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will 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, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements 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 potential changes and developments in the 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 put undue reliance on forward-looking statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Innoviz gives no assurance that it will achieve its expectations.
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