Business
Innoviz Technologies and General Laser Sign Distribution Agreement to Accelerate LiDAR Adoption in Europe
- Innoviz adds General Laser to its global distributor ecosystem to accelerate LiDAR sales across European markets - Innoviz's LiDAR products, including
About this update from Innoviz Technologies Ltd.
[{"type":"text","content":"- Innoviz adds General Laser to its global distributor ecosystem to accelerate LiDAR sales across European markets\n- Innoviz's LiDAR products, including InnovizOne, InnovizTwo and Innoviz360, will strengthen General Laser's LiDAR portfolio, offering customers the highest-performing LiDAR products for multiple applications\n- The European non-automotive LiDAR market is forecast to grow at a compounded annual growth rate of approximately 25 percent over the next six years, reaching nearly $2 billion USD by 2029\nTEL AVIV, Israel and VIENNA, Feb. 22, 2023 /PRNewswire/ -- Innoviz Technologies (Nasdaq: INVZ) (the \"Company\" or \"Innoviz\"), a technology leader of high-performance, automotive-grade LiDAR sensors and perception software, and General Laser, a leading European provider of products and services in the fields of lasers, robotics, special machinery and more, today announced their collaboration to drive sales for Innoviz's LiDAR solutions in the European market. This is Innoviz's first distribution agreement in Europe. \n \n \nGeneral Laser will utilize its network of over 70 resellers and direct relationships with customers across Europe to accelerate the adoption of Innoviz's LiDAR solutions in General Laser's service territory across Europe. General Laser will help expand Innoviz's sales efforts into various industrial market segments, including construction, agriculture, mobile robotics, drones, surveillance and more, driving near-term revenues.\n\"As Innoviz continues to disrupt and lead the LiDAR space, it is important to build out our ecosystem of distributor partners that will support our global growth,\" said Tali Chen, Chief Business Officer at Innoviz. \"General Laser's strong customer base across European markets and industries, paired with its deep technical understanding of LiDAR products, ensures that we will meet the growing demand for high-performance LiDAR solutions across Europe.\"\nWith a network of over thirty partners and distributors, this partnership supports the company's growth as a worldwide leader in high-performance LiDAR technology. Through this new European distributor partner, Innoviz will make its full portfolio of high-performing LiDAR products available, including its first and second generation sensors, InnovizOne and InnovizTwo, as well as Innoviz's newest and revolutionary spinning sen...