Innoviz Reiterates Value Proposition in Open Letter to Shareholders
TEL AVIV, Israel, Aug. 16, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) ("Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software, today issued an open letter to its shareholders following its recently-completed underwritten public offering of ordinary shares, in which Co-Founder and CEO Omer Keilaf highlights the Company's strong operational execution and recent customer wins.
- Innoviz is currently participating in over five active RFQ sourcing processes, all with major automotive OEMs.
- We believe we are in a once-in-a-lifetime market share capture window for the automotive LiDAR industry.
- Winner Takes Most Market: At Innoviz, we believe the automotive LiDAR industry is ultimately going to be a winner-takes-most market.
- When combined, these factors point to a strong backdrop for Innoviz in the programs that we are actively competing on.