On April 6, the Israeli solid-state lidar company Innoviz Technologies, Ltd ("Innoviz", stock code: INVZ) was listed on the Nasdaq in the United States through SPAC and became West Fountain Parallel Fund’s first IPO in 2021. After Desktop Metal and Bestechnic Technology, Innoviz is the third IPO since the inception of West Fountain Parallel Fund and the second IPO from overseas investment.
In April 2019, West Fountain, an offshore parallel fund of West Fountain Parallel Fund, jointly with Shenzhen Capital Group, participated in the Series C investment in the LiDAR sensor and perception software provider Innoviz. The company's other investors include SoftBank, Samsung, Magna International, Delphi, BMW, Fidelity, Magma, and Vertex. mechanism.
In recent years, autonomous driving technology has developed rapidly. Vehicle-mounted LiDAR is the core technology that cannot be bypassed by autonomous driving and is the core of autonomous driving. Innoviz's solid-state lidar performance indicators are in a leading position among the peers. To meet the development needs of the automotive industry, which has been waiting for LiDAR technology to mature, Innoviz has already partnered with automakers around the world to carry out various projects. After years of development and rigorous testing, InnovizOne's high-volume automotive-grade fully automatic production line will be gradually put into production to provide products and services for BMW and other customers. At the same time, the company will continue to introduce a new generation of solid-state lidar InnovizTwo to the market, which is expected to further reduce costs and improve performance and accelerate the use of lidar in all types of cars. In terms of vision services, Innoviz will continue to collect data and develop new computer vision functions for InnovizAPP (new car perception platform). Through these developments, Innoviz will further expand its technological leadership and consolidate its leading position in high-performance, cost-effective solid-state lidar sensors and perception software for autonomous driving.
Innoviz co-founder and CEO Omer Keilaf said: "For the Innoviz team, this is a critical moment. For the entire industry, this is a historic moment. Since its inception, Innoviz’s engineers have been promoting solid-state lidar. The boundaries of performance allow us to bring safe, reliable and affordable solutions for large-scale adoption by automakers. The growing demand and volume of orders from customers in Europe, the United States and the Asia-Pacific region prove our commitment. Become The listed company will put Innoviz among the global leaders in the field of autonomous driving."
West Fountain Parallel Fund has long been optimistic about the driverless field. It has invested in a series of prestigious companies in this field and has achieved remarkable investment results. In addition, West Fountain Parallel Fund has invested in more than 20 domestic and overseas high-tech companies in the United States, Germany, Israel, Japan and other countries based on the concept of global investment. We believe that in the future, more outstanding invested companies will be listed on the global capital market. At the same time, we will continue to help portfolio companies to realize their true global vision.