Japan Publish Unveils Slicing-Edge Initiative to Digitize Roads for Digital Maps Utilizing Innoviz LiDAR

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The Initiative Allows Subsequent-Technology Companies Together with Autonomous Driving and Unmanned Supply

TEL AVIV, Israel and TOKYO, July 21, 2022 /PRNewswire/ — Innoviz Applied sciences Ltd. (NASDAQ: INVZ) (the “Firm” or “Innoviz”), a number one supplier of high-performance, automotive-grade LiDAR sensors and notion software program, right now introduced that Japan Publish, a particular personal firm beneath the jurisdiction of the Ministry of Inside Affairs and Communications, providing postal and logistics companies in addition to banking and life & non-life insurance coverage company companies, goals to assemble digital maps with Innoviz’s high-performance InnovizOne LiDAR sensor, paving the best way for next-generation sensible metropolis companies akin to autonomous driving and unmanned supply.

Japan Publish introduced their plans to put in InnovizOne LiDAR sensors on their postal supply vehicles on July 20, 2022, throughout Scrum Ventures’ SmartCityX Convention in San Francisco, which introduced collectively greater than 150 best-in-class founders, VCs, and stage-agnostic startups from throughout the globe. The InnovizOne geared up supply autos will generate detailed digital maps that collect info akin to modifications in roads and buildings alongside supply routes.  These detailed maps will function foundational knowledge to allow next-generation companies for Japan’s residents, akin to automated driving and extra.

The sensible cities market is increasing quickly, and Autonomous on-road supply autos are a near-term precedence for cities which might be more and more on the lookout for environment friendly methods to maneuver individuals and items. The Japanese marketplace for sensible metropolis applied sciences is anticipated to develop from almost $45 million USD in 2021 to over $93 million USD by 2027.

“Cities are evolving and re-emerging stronger than ever from the pandemic,” stated Michael Proman, Managing Director at Scrum Ventures and SmartCityX. “The collaborations between our Japanese companions and taking part stage-agnostic startups transcend a number of sensible metropolis classes and characterize among the most considerate and modern options being deployed around the globe. We’re thrilled to assist additional these efforts.”

“We enormously respect such an modern strategy filled with prospects to resolve native points throughout the nation utilizing the answer from Innoviz,” stated Government Officer at Japan Publish, Yoshihiro Gomi. “We hope that the mix of our belongings and InnovizOne LiDAR sensor will result in the creation of a brand new enterprise.”

“Our modern collaboration with Japan Publish highlights the flexibility of the Innoviz LiDAR and that is one other instance of recent methods to make use of LiDAR in sensible cities,” stated VP Asia at Innoviz Applied sciences, David Oberman. “We’re grateful for the assets and assist from Scrum Ventures to speed up deployment of our InnovizOne LiDAR sensors for developing digital maps and bringing worth to Japan residents.”

Scrum Ventures’ SmartCityX program goals to discover new improvements that may unlock new worth by way of partnership with firms, native governments, and startups. 13 Japanese firms representing quite a lot of industries took half on this 12 months’s occasion. InnovizOne was chosen by Japan Publish as a result of its potential to generate exact, high-resolution 3D level cloud knowledge required for constructing the digital map. Following a profitable demonstration final month, the 2 firms have begun to confirm the wants and use of Japan Publish knowledge.

About Japan Publish

Japan Publish is an organization that operates postal companies and submit workplaces in Japan, aiming to create new worth in cooperation with firms outdoors the Japan Publish Group by combining its submit workplaces and supply networks, considered one of its best strengths, with digital applied sciences to help prospects in cherishing secure, safe, and enriched lives of their communities.

About Innoviz Applied sciences

Innoviz is a worldwide chief in LiDAR know-how, working in the direction of a future with secure autonomous autos on the world’s roads. Innoviz’s LiDAR and notion software program “see” higher than a human driver and cut back the potential for error, assembly the automotive trade’s strictest expectations for efficiency and security. Working throughout the U.S., Europe, and Asia, Innoviz has been chosen by internationally acknowledged premium automotive manufacturers to be used in shopper autos in addition to by different business and industrial leaders for a variety of use circumstances. For extra info, go to innoviz-tech.com 

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Investor Contact
Maya Lustig                                                                       
Innoviz Applied sciences
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Ahead Trying Statements

This announcement incorporates sure forward-looking statements throughout the which means of the federal securities legal guidelines, together with statements relating to the companies provided by Innoviz, the anticipated technological functionality of Innoviz’s merchandise, the markets during which Innoviz operates, Innoviz’s forward-looking order e book, and Innoviz’s projected future outcomes. These forward-looking statements usually are recognized by the phrases “consider,” “venture,” “count on,” “anticipate,” “estimate,” “intend,” “technique,” “future,” “alternative,” “plan,” “might,” “ought to,” “will,” “would,” “can be,” “will proceed,” “will probably outcome,” and related expressions. Ahead-looking statements are predictions, projections and different statements about future occasions which might be based mostly on present expectations and assumptions and, because of this, are topic to dangers and uncertainties. “Ahead-looking order e book” is the cumulative projected future gross sales of {hardware} and notion software program based mostly on present estimates of volumes and pricing regarding a venture.  Many components may trigger precise future occasions, and, within the case of our forward-looking order e book, precise orders, to vary materially from the forward-looking statements on this announcement, together with however not restricted to, the power to implement enterprise plans, forecasts, and different expectations, the power to transform design wins into definitive orders and the magnitude of such orders, the power to determine and notice further alternatives, and potential modifications and developments within the extremely aggressive LiDAR know-how and associated industries. The foregoing listing of things isn’t exhaustive. You must rigorously think about the foregoing components and the opposite dangers and uncertainties described in Innoviz’s annual report on Kind 20-F filed with the SEC on March 30, 2022 and different paperwork filed by Innoviz sometimes with the SEC. These filings determine and deal with different essential dangers and uncertainties that would trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Ahead-looking statements converse solely as of the date they’re made. Readers are cautioned to not put undue reliance on forward-looking statements, and Innoviz assumes no obligation and doesn’t intend to replace or revise these forward-looking statements, whether or not because of new info, future occasions, or in any other case. Innoviz offers no assurance that it’ll obtain its expectations.

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SOURCE Innoviz Applied sciences


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