Just yesterday FreightWaves took note of the red-hot LIDAR market, with a news brief on San Francisco based Ouster landing additional venture capital.
The fire continued to burn bright this week, with Israeli LIDAR startup Innoviz Technologies announcing it too had scored more venture dollars – $132 million, to be precise.
The Series C financing was led by China Merchants Capital, with participation from Shenzhen Capital Group, New Alliance Capital, Harel Insurance Investments and Financial Services, and Phoenix Insurance Company.
Innoviz Technologies’ Series C follows its $65 million Series B round in September 2017 and its $9 million Series A in 2016. That brings Innoviz’s total raised to $214 million, which CEO Omer Keilaf said will help to further its research and development efforts and expansion into “key” automotive markets in the U.S., Europe, Japan and China.