Summary

Innoviz Technologies (NASDAQ: INVZ), headquartered in Rosh HaAyin, Israel, develops solid-state automotive LiDAR sensors and perception software for L2+ through L4 autonomous driving. Founded in 2016 by a team of Israeli defense technology veterans including CEO Omer Keilaf, Innoviz has secured production design-wins with BMW and Volkswagen — two of the highest-profile automotive LiDAR commitments in the industry. The InnovizOne sensor, manufactured in series production by Magna Electronics, powers the BMW i7’s L3 Personal Pilot feature (launched March 2024) — one of the world’s first series-production L3 autonomous driving systems. Nine InnovizTwo sensors per vehicle are integrated into the Volkswagen ID.Buzz AD autonomous vehicle program. Revenue has grown rapidly from a low base: FY2024 $24.5 million, FY2025 $55.1 million (approximately 2x year-over-year growth).

Key Facts

  • Founded: 2016
  • HQ: Rosh HaAyin, Israel
  • Ticker: NASDAQ: INVZ
  • Type: Public
  • CEO: Omer Keilaf (co-founder)
  • Key products: InnovizOne (production, BMW i7 L3); InnovizTwo (production, VW ID.Buzz); InnovizThree (next-gen, 60% smaller, behind-windshield integration)
  • Revenue: FY2024 ~$24.5M; FY2025 $55.1M (>2x YoY growth)
  • Key partnerships: BMW (InnovizOne, L3 Personal Pilot, BMW i7 and future BMW platforms); Volkswagen (InnovizTwo, ID.Buzz AD); Magna Electronics (contract manufacturer for InnovizOne production)

What It Is / How It Works

Innoviz’s LiDAR sensors use MEMS (Micro-Electro-Mechanical Systems) solid-state scanning — a mirror-based approach where a tiny MEMS mirror oscillates to steer the laser beam across the scene, replacing the spinning barrel of traditional mechanical LiDAR. MEMS-based solid-state LiDAR eliminates the moving mechanical assembly of traditional spinning LiDAR, improving reliability and enabling compact packaging that allows windshield- or grille-integration in production vehicles — critical for OEM aesthetics and aerodynamics.

The BMW i7 partnership represents the most commercially significant Innoviz deployment to date. BMW’s “L3 Personal Pilot” feature, which allows hands-free, eyes-off driving at highway speeds up to 130 km/h, relies on LiDAR for object detection in conditions where cameras (which require reflective lane markings) are insufficient — notably tunnels and nighttime driving. The InnovizOne sensor, manufactured at scale by Magna Electronics (Canada), is the perception backbone for this system. BMW launched L3 Personal Pilot in Germany in March 2024, marking one of the world’s first type-approved L3 autonomous features in a production vehicle.

The Volkswagen ID.Buzz Autonomous Driving program — the self-driving variant of the iconic microbus — integrates nine InnovizTwo sensors per vehicle for 360-degree coverage in urban robotaxi operations. This program is operated by MOIA (VW’s mobility subsidiary) in Hamburg, Germany, and is being developed toward a commercial robotaxi service.

InnovizThree, the third-generation platform, addresses the key cost and integration challenge of prior generations: size and power. At 60% smaller than InnovizTwo and designed for behind-the-windshield integration, InnovizThree aims to eliminate the external sensor cluster appearance that prior-gen automotive LiDAR required. Behind-windshield integration is the form factor preferred by most OEMs for aesthetic and aerodynamic reasons, but it requires solving heat management and optical quality challenges.

The revenue growth trajectory reflects the commercialization of the BMW i7 program: InnovizOne revenue starts flowing as BMW ramps production, creating quarterly revenue growth that has roughly doubled the annual run rate between FY2024 and FY2025.

Notable Developments

  • 2026-02: FY2025 full-year results: revenue $55.1M (>2x FY2024 $24.5M). (PR Newswire)
  • 2025-Q2: Revenue miss causes stock decline; revenue recognition timing from BMW program cited. (Investing.com)
  • 2025-Q3: Revenue $15.3M (vs. $4.5M Q3 2024), YTD revenue 2.3x prior year. (PR Newswire)
  • 2025: InnovizThree B-samples in development for next-generation BMW autonomous vehicle platforms. (Innoviz IR)
  • 2024-03: BMW launches i7 L3 Personal Pilot in Germany using InnovizOne — one of the world’s first type-approved L3 autonomous features in a production vehicle.
  • 2023: Magna Electronics begins series-production manufacturing of InnovizOne for BMW i7 L3 program.
  • 2021: SPAC IPO via Collective Growth Corp on NASDAQ; InnovizOne automotive-grade production qualification completed.
  • 2016: Founded in Rosh HaAyin, Israel by Omer Keilaf and team of Israeli defense technology engineers.

Key People

Omer Keilaf — Co-Founder and CEO

  • LinkedIn: Not confirmed with specific URL in public search
  • Education: Not publicly disclosed; background in Israeli defense technology per company bio
  • Career (reverse-chronological):
    • Innoviz Technologies (2016–present): Co-founder and CEO
    • Israeli defense technology sector (prior; specific companies not publicly detailed)
  • Notes: Named CEO of the Year at the 2018 Image Sensors Europe Awards. Leads the company’s automotive OEM engagement strategy and technology roadmap.

People — Last Reviewed: 2026-03-31

Supply Chain Position

Innoviz operates as a Component-Subsystem Supplier at the automotive LiDAR sensor layer. The company designs the sensor in Israel; series production of InnovizOne for BMW is manufactured by Magna Electronics under a contract manufacturing arrangement — a standard automotive supply chain approach that delegates volume production to a Tier 1 automotive supplier with established quality systems (IATF 16949). This supply chain model is the opposite of Hesai’s vertically integrated approach.

⚑ Israeli defense technology heritage: Innoviz was founded by engineers from Israel’s defense electronics sector, which has deep expertise in precision optics, MEMS sensors, and fire control systems. This heritage provides relevant engineering capability but also means the company operates in a geopolitically sensitive technology domain where export controls (ITAR-adjacent Israeli defense export regulations) may apply to certain sensing capabilities.

⚑ Rare earth dependency note: MEMS mirror fabrication uses silicon and aluminum, not rare earth materials. The laser emitters (typically 905nm pulsed diode lasers) use GaAs semiconductor materials from the III-V semiconductor supply chain — dependent on refined gallium, not rare earths per se, but still subject to concentration in Chinese refining for intermediate materials.

Claim Verification

Claim: BMW i7 L3 Personal Pilot is one of the world’s first type-approved L3 autonomous systems in production

Status: Verified

Supporting sources:

  • BMW i7 L3 launch confirmation — Innoviz IR (CES 2025 announcement) — BMW i7 on roads since March 2024 with L3 capabilities
  • Multiple automotive media sources confirm BMW received German type approval for L3 in the BMW i7 Series in 2024; the iX was announced earlier but the i7 was the production vehicle
  • Honda Legend (Japan) received L3 type approval in 2021 in Japan, predating BMW

Refuting / questioning sources:

  • Honda Legend received the first L3 type approval globally (Japan, 2021) — the BMW i7 is not technically “the first” L3 production vehicle globally, though it may be the first in Germany/EU markets
  • L3 systems are geographically limited by type approval; the BMW system is approved in Germany but not universally

Summary: The BMW i7 InnovizOne-powered L3 Personal Pilot is a genuine production L3 system approved in Germany; it is not uniquely the first L3 production vehicle globally but is among the first in the EU/Western markets.

Sources