TEL AVIV, Israel and
SEOUL, South Korea, Aug. 4, 2021 /PRNewswire/ -- Innoviz
Technologies (Nasdaq: INVZ), a leading provider of
high-performance, solid-state LiDAR sensors and perception
software, and SpringCloud, a leading autonomous mobility service
provider, recently completed a partnership agreement.
This partnership builds on Innoviz's strong relationships in
Korea. NAVER, the Korean IT giant, together with Delphi Automotive
and Magna International, invested in Innoviz Technologies in 2017.
Additional Korean investors in Innoviz include Samsung, Softbank
and SK.
Through this agreement, SpringCloud will gain the ability to
distribute Innoviz products in Korea across multiple sectors from
automotive OEMs, shuttles and robotaxis, to robotics, drones and
industrial applications.
"We are delighted to partner with a strong and leading
autonomous mobility service provider such as SpringCloud, to expand
our market presence in South Korea
and bring our high-performance, solid-state LiDAR sensors to a wide
range of applications," said Omer Keilaf, CEO and co-founder
of Innoviz.
"We are pleased to partner with Innoviz, which will solidify
SpringCloud's position as an advanced autonomous mobility service
provider in Korea. Innoviz Technologies' strong global technology
presence will ensure that this partnership leads to a long-term
bond between the companies for fruitful business together" said
Younggi Song, CEO and founder of SpringCloud.
About Innoviz Technologies
Innoviz is a leading provider of technology that will put
autonomous vehicles on roads. Innoviz's LiDAR technology
can "see" better than a human driver and meets the automotive
industry's strict expectations for performance, safety, and price.
Selected by BMW for its fully autonomous car
program, Innoviz's technology will be deployed in BMW's
consumer vehicles. Innoviz is backed by top-tier strategic partners
and investors, including SoftBank Ventures Asia, Samsung, Magna
International, Aptiv, Magma Venture Partners, and others. For
more information, visit www.innoviz.tech.
Join the discussion: Facebook, LinkedIn, YouTube,
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About SpringCloud
SpringCloud is a Korean pioneering startup that
introduced autonomous shuttle service for the first
time in Korea. SpringCloud provides advanced autonomous
mobility service based on artificial intelligence technology in
addition to data analysis service for autonomous
mobility. Throughout the country, autonomous shuttles are
run by SpringCloud's integrated mobility service, based on
on-demand mobile application where passengers can make a seat
reservation and pay for shuttle bus fare; Kiosk stations; and IOT
smart garages for EV charging and MRO (maintenance, repair,
and overhaul). SpringCloud is also active in other business
areas such as robot delivery, street-sweeping vehicles and ocean
cleaning drones, as well as next generation academic programs. For
more information, visit www.aspringcloud.com
Contact Information – Innoviz
Technologies
Media@innoviz-tech.com
Investor Contact
Maya
Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Gateway Investor Relations
Cody Slach or Matt
Glover
(949) 574-3860
Investors@innoviz-tech.com
Contact Information -
SpringCloud
Support@aspringcloud.com
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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SOURCE Innoviz Technologies