Benzinga | Aug 4, 2021 07:41AM EDT

Innoviz Technologies Partners With SpringCloud; Terms Not Disclosed

Innoviz Technologies (NASDAQ:INVZ), a leading provider of high-performance, solid-state LiDAR sensors and perception software, and SpringCloud, a leading autonomous mobility service provider, recently completed a partnership agreement.

This partnership builds on Innoviz's strong relationships in Korea. NAVER, the Korean IT giant, together with Delphi Automotive and Magna International, invested in Innoviz Technologies in 2017. Additional Korean investors in Innoviz include Samsung, Softbank and SK.

Through this agreement, SpringCloud will gain the ability to distribute Innoviz products in Korea across multiple sectors from automotive OEMs, shuttles and robotaxis, to robotics, drones and industrial applications.

"We are delighted to partner with a strong and leading autonomous mobility service provider such as SpringCloud, to expand our market presence in South Korea and bring our high-performance, solid-state LiDAR sensors to a wide range of applications," said Omer Keilaf, CEO and co-founder of Innoviz.

"We are pleased to partner with Innoviz, which will solidify SpringCloud's position as an advanced autonomous mobility service provider in Korea. Innoviz Technologies' strong global technology presence will ensure that this partnership leads to a long-term bond between the companies for fruitful business together" said Younggi Song, CEO and founder of SpringCloud.