Tel Aviv-based Innoviz Technologies, a provider of high-performance, solid-state LiDAR sensors and perception software, has released its highly anticipated Automotive Perception Platform - InnovizAPP for the automotive industry, the company announced Thursday.
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InnovizAPP is the company's advanced perception platform, which includes automotive-grade hardware and software that enable autonomous vehicles (AVs) to identify and classify objects.
The company reports that it is already shipping InnovizAPP to selected automaker giants, helping them accelerate timelines for consumer AV programs globally.
The InnovizAPP is based on Innoviz's advanced Perception Software, which leverages data derived from Innoviz's LiDAR sensors, coupled with proprietary artificial intelligence (AI) algorithms, to analyze the point cloud and estimate an object's speed with high precision.
The software can accurately detect and classify objects in any 3D driving scene up to 250 meters (820 feet) away, including cars, trucks, motorcycles, pedestrians, and more. It also executes perception algorithms in real time, detecting and classifying pixels as relevant or irrelevant to collisions.
InnovizAPP hardware connects to existing vehicle systems, allowing automakers to test and learn how to build their own autonomous driving systems.
Co-founder and CEO of Innoviz Omer Keilaf calls InnovizAPP "a true technology breakthrough."
"We developed it in response to requests from major automakers, and our customers in Asia, Europe, and North America are already optimizing their AV programs with this platform, which is rapidly becoming the gold standard for customer validation," Keilaf explained.
On December 11, 2020, Inoviz announced it had entered into a definitive agreement with Collective Growth Corporation (NASDAQ: CGRO), which would result in Innoviz going public. The combined company will retain the Innoviz Technologies, Ltd. name, and its ordinary shares are expected to be listed on Nasdaq under the ticker symbol "INVZ."
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