Summary

Innoviz Technologies (NASDAQ: INVZ) is an Israeli solid-state LiDAR developer headquartered in Rosh HaAyin (near Tel Aviv). It is notable for being the first company to achieve series-production automotive LiDAR in a passenger vehicle: its InnovizOne sensor entered production with BMW in 2023 and powers the BMW i7’s Level 3 Personal Pilot system. The follow-on InnovizTwo sensor, offering ~300m range at substantially lower cost per unit, is ramping for Volkswagen’s ID.Buzz autonomous shuttle program and an undisclosed Class 8 autonomous trucking OEM. Innoviz trades on NASDAQ and is primarily an automotive OEM supplier, with Israeli defense-adjacent roots given its founders’ backgrounds in elite IDF technology units.

Key Facts

  • Founded: 2016
  • HQ: Rosh HaAyin, Israel
  • Type: Public (NASDAQ: INVZ)
  • Key backers: Raised $252M+ pre-IPO; went public via SPAC merger 2021; backers include Magna International (manufacturing partner), onsemi (chip supply partner)
  • Key products: InnovizOne (BMW L3 production LiDAR); InnovizTwo (next-gen, >70% cost reduction vs One, ~300m range)
  • Revenue: FY2024 $24.3M (vs. $20.9M in 2023); FY2025 guidance $50–60M (~2× 2024)
  • Cash position: ~$68M as of December 31, 2024; plus ~$80M NRE payment plan from key customers expected largely in 2025–2026
  • Manufacturing: Magna Electronics Inc. produces InnovizOne; InnovizTwo contract manufacturing partnerships in place as of 2025

What It Is / How It Works

Innoviz’s LiDAR sensors are based on a MEMS (micro-electromechanical systems) beam-steering architecture. Traditional spinning LiDAR rotates an entire sensor head mechanically to scan 360°. Solid-state sensors using MEMS instead use a tiny oscillating mirror — a chip-scale MEMS actuator — to steer the laser beam electronically across a field of view. This approach eliminates the high-tolerance rotating assembly that makes spinning LiDAR expensive and failure-prone in automotive environments.

In Innoviz’s design, a pulsed laser fires through the MEMS mirror, which deflects the beam across the sensor’s field of view in a precise raster or Lissajous pattern. Reflected photons are detected by a matched receiver array. The result is a solid-state device with no macroscopic moving parts, enabling the compact, vibration-resistant form factor required for windshield or bumper mounting in a production vehicle. The primary tradeoff is that MEMS beam steering constrains field of view — Innoviz’s InnovizOne covers a 115° × 25° horizontal-by-vertical window, versus 360° for spinning sensors. Automotive forward-facing applications (adaptive cruise, lane change, pedestrian detection) typically require only a forward-facing cone, making this tradeoff acceptable for the automotive use case.

InnovizOne entered series production with BMW’s Tier 1 supplier Magna Electronics in 2023. The BMW i7 Personal Pilot L3 system, which went on-road in specific geographies from March 2024, uses InnovizOne to enable eyes-off highway driving at up to 130 km/h in approved conditions. This represents the first automotive L3 system in a series-production passenger car to use solid-state LiDAR — a significant commercial milestone for the industry.

InnovizTwo is the second-generation sensor, claiming ~300m range (versus ~150m for InnovizOne), higher resolution, and a cost reduction of more than 70% per unit. This cost reduction is enabled by architectural changes to the MEMS design and tighter integration with custom onsemi SiPM (silicon photomultiplier) detector chips. InnovizTwo is designed to support L4 autonomous driving, and Innoviz has announced a design win with a major commercial vehicle OEM for Class 8 autonomous trucks — a segment where long-range forward detection is critical.

NRE (non-recurring engineering) revenue constitutes a significant portion of Innoviz’s revenues in the current phase, reflecting the fact that automotive OEM programs pay substantial engineering fees during the development and pre-production stages. The shift to production-unit revenue at scale (InnovizTwo) is expected to drive the revenue step-change targeted in 2025 guidance.

Notable Developments

  • 2025-11: Q3 2025 revenues of $15.3M, +240% YoY; FY2025 guidance reiterated at $50–60M. (Innoviz IR)
  • 2025: Design win announced for L4 Class 8 autonomous truck program with a major commercial vehicle OEM (name undisclosed); InnovizTwo manufacturing begins with contract manufacturing partners.
  • 2024-03: BMW i7 Level 3 Personal Pilot system with InnovizOne goes on-road in approved geographies; first MEMS solid-state LiDAR in series production.
  • 2024: FY2024 revenue $24.3M; cash ~$68M; ~$80M NRE payment plan established with key customers. (Innoviz IR)
  • 2023: Magna Electronics Inc. begins series-production manufacturing of InnovizOne for BMW L3 program.
  • 2022-2023: Volkswagen ID.Buzz Autonomous shuttle program design win; Innoviz selected as LiDAR supplier.
  • 2021: SPAC IPO on NASDAQ (INVZ).
  • 2016: Company founded by Omer Keilaf, Oren Buskila, and David Wiessman; all former IDF elite technology unit veterans.

Key People

Omer Keilaf — Co-Founder and CEO

  • LinkedIn: linkedin.com/in/omer-keilaf-b4395b37 (per company biographical sources; verify)
  • Education: Tel Aviv University (BSc and MSc Electrical Engineering; MBA)
  • Career (reverse-chronological):
    • Innoviz Technologies (2016–present): Co-founder and CEO
    • Consumer Physics (approx. 2013–2016): Senior role (consumer near-infrared spectrometer startup)
    • STMicroelectronics: Engineering roles (prior to Consumer Physics)
    • Israel Defense Forces: Officer in elite technology unit
  • Notes: Named CEO of the Year by Image Sensors Europe Awards 2018. Expert in electrical optics and MEMS. Returned to Tel Aviv University as a lecturer (2000–2001). The IDF elite technology unit background is a common origin for Israel’s hardware-deep-tech founders.

People — Last Reviewed: 2026-03-31

Supply Chain Position

Innoviz operates at the Component/Subsystem Supplier layer, selling sensors and NRE services to Tier 1 automotive suppliers (Magna) and OEMs. Its MEMS chip is a custom device requiring specialized MEMS foundry capacity — not a commodity component. onsemi supplies the SiPM detector arrays for InnovizTwo under a partnership that gives onsemi strategic exposure to automotive LiDAR. Magna Electronics is the series-production manufacturer for InnovizOne. ⚑ Shared supply chain: onsemi SiPM detectors are used by multiple LiDAR developers seeking high-sensitivity photon detection; Innoviz is not the only customer competing for that supply.

Claim Verification

Claim: InnovizTwo reduces cost per unit by >70% compared to InnovizOne

Status: Unverified

Supporting sources:

Refuting / questioning sources:

  • No independent third-party cost verification exists at this stage; InnovizTwo was still in early production ramp in 2025; actual production cost reduction will only be measurable at volume

Summary: The 70%+ cost reduction claim is company-reported and architecturally plausible given the onsemi chip integration, but cannot be independently verified until InnovizTwo reaches meaningful production volume with disclosed unit economics.

Sources