The Initiative Enables Next-Generation Services Including
Autonomous Driving and Unmanned Delivery
TEL
AVIV, Israel and TOKYO, July 21,
2022 /PRNewswire/ -- Innoviz Technologies
Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a leading
provider of high-performance, automotive-grade LiDAR sensors and
perception software, today announced that Japan Post, a special
private company under the jurisdiction of the Ministry of Internal
Affairs and Communications, offering postal and logistics services
as well as banking and life & non-life insurance agency
services, aims to construct digital maps with Innoviz's
high-performance InnovizOne LiDAR sensor, paving the way for
next-generation smart city services such as autonomous driving and
unmanned delivery.
Japan Post announced their plans to install InnovizOne LiDAR
sensors on their postal delivery cars on July 20, 2022, during Scrum Ventures'
SmartCityX Conference in San
Francisco, which brought together more than 150
best-in-class founders, VCs, and stage-agnostic startups from
across the globe. The InnovizOne equipped delivery vehicles will
generate detailed digital maps that gather information such as
changes in roads and buildings along delivery routes. These
detailed maps will serve as foundational data to enable
next-generation services for Japan's residents, such as automated driving
and more.
The smart cities market is expanding rapidly, and Autonomous
on-road delivery vehicles are a near-term priority for cities that
are increasingly looking for efficient ways to move people and
goods. The Japanese market for smart city technologies is expected
to grow from nearly $45 million USD
in 2021 to over $93 million USD by
2027.
"Cities are evolving and re-emerging stronger than ever from the
pandemic," said Michael Proman,
Managing Director at Scrum Ventures and SmartCityX. "The
collaborations between our Japanese partners and participating
stage-agnostic startups transcend multiple smart city categories
and represent some of the most thoughtful and innovative solutions
being deployed around the world. We're thrilled to help further
these efforts."
"We greatly appreciate such an innovative approach full of
possibilities to solve local issues across the country using the
solution from Innoviz," said Executive Officer at Japan Post,
Yoshihiro Gomi. "We hope that
the combination of our assets and InnovizOne LiDAR sensor will lead
to the creation of a new business."
"Our innovative collaboration with Japan Post highlights the
versatility of the Innoviz LiDAR and this is another example of new
ways to use LiDAR in smart cities," said VP Asia at Innoviz
Technologies, David Oberman. "We
are grateful for the resources and support from Scrum Ventures to
accelerate deployment of our InnovizOne LiDAR sensors for
constructing digital maps and bringing value to Japan residents."
Scrum Ventures' SmartCityX program aims to explore new
innovations that can unlock new value through partnership with
companies, local governments, and startups. Thirteen Japanese
corporations representing a variety of industries took part in this
year's event. InnovizOne was selected by Japan Post due to its
ability to generate precise, high-resolution 3D point cloud data
required for building the digital map. Following a successful
demonstration last month, the two companies have begun to verify
the needs and use of Japan Post data.
About Japan Post
Japan Post is a company that operates postal services and post
offices in Japan, aiming to create
new value in cooperation with companies outside the Japan Post
Group by combining its post offices and delivery networks, one of
its greatest strengths, with digital technologies to assist
customers in cherishing safe, secure, and enriched lives in their
communities.
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
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Media Contact
Media@innoviz-tech.com
Investor Contact
Maya
Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.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, Innoviz's forward-looking order
book, 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. "Forward-looking
order book" is the cumulative projected future sales of hardware
and perception software based on current estimates of volumes and
pricing relating to a project. Many factors could cause
actual future events, and, in the case of our forward-looking order
book, actual orders, 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 convert design wins into definitive
orders and the magnitude of such orders, 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 March 30, 2022
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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