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Innoviz became a publicly traded company on the NASDAQ in the United States via SPAC.


Image from Innoviz

In April 2019, West Fountain Global Fund L.P., the overseas parallel fund of the West Fountain Sino-US Fund, invested together with the Shenzhen Capital Group ("Shenzhen Investment"), in the Series C Preferred financing for Innoviz. Other investors in the company include strategic and financial institutions such as Samsung, Magna International, Delphi, BMW, Fidelity, Magma, and Vertex. In April 2021, Innoviz (stock code: INVZ) successfully became a publicly traded company on the NASDAQ in the United States via SPAC.
Innoviz is a global leader in LiDAR technology. Its LiDAR and perception software "see more clearly" than human drivers and significantly reduce the possibility of errors, meeting the automotive industry's strictest requirements for performance and safety. Innoviz operates in the United States, Europe, and Asia, has been chosen by internationally renowned premium automotive brands for use in autonomous vehicles, and supplies other global commercial and industrial leading enterprises, applying its technology in a wider range of application scenarios.
Further demonstrating the impact Innoviz is making in the market, on May 2, 2023, Innoviz was chosen by one of the world's largest automobile manufacturers to become its direct supplier of high-performance solid-state LiDAR. This significant milestone is a result of more than two years of intense R&D and qualification efforts by Innoviz, marking its third significant design win and is expected to increase its forward-looking orders by $4 to $6.6 billion USD.
Omer Keilaf, CEO and Co-founder of Innoviz, recently stated, "We are proud to supply our outstanding InnovizTwo LiDAR and perception software as a direct supplier to support this new series of production plans. Being chosen by a large multinational automaker is a significant catalyst for Innoviz, and we expect it will influence the entire industry, which has been waiting for a decision of this magnitude. We anticipate the effect of this order will gradually expand as other automotive brands within the group begin to adopt our platform. Moreover, we expect more automakers to adopt this decision in their autonomous vehicle designs."
West Fountain Sino-US Fund has long been optimistic about the field of autonomous driving and has invested in a series of well-known companies in this area with significant investment results. In the future, West Fountain Sino-US Fund will continue to provide strong support for its invested companies and look sforward to Innoviz continuing to create a better future for safe autonomous driving with its innovative LiDAR technology.

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