Innoviz Expands German Footprint with New Munich Office

Innoviz Technologies (Nasdaq: INVZ) (the "Company" or "Innoviz"), a technology leader of high-performance, automotive-grade LiDAR sensors and perception software, announced today it has officially opened a new office in Munich, Germany. The new office offers proximity to key customers and partners for greater collaboration and execution, as well as for new business opportunities.

The new Munich office inhabits sales and engineering staff and has a place for hosting meetings and demos. Innoviz plans to hire locally as its project portfolio is likely to continue to ramp up. With its thriving innovation ecosystem and its many technical universities and research institutions, Munich offers a highly-skilled workforce and multiple collaboration opportunities in Germany and greater Europe.

Innoviz's new office in Munich is equipped with a lab facility as well as a garage for test vehicles.

"We are expanding Innoviz's operations globally, and a Munich office is an important move for us as we execute on our design wins with key customers such as Volkswagen and BMW. Germany is one of the leading automotive markets and it is a top priority for us to maintain good relationships with our customers and continue to grow our business in the region" said Innoviz CEO and Co-Founder Omer Keilaf.

"While Innoviz continues to expand, the quality of our LiDAR products and customer relationships remain a top priority," said Innoviz Director of Program Management and the team manager at the Munich office, Aviv Acoca. "We look forward to enhancing our relationships with our customers in addition to expanding our technical capabilities with our lab and support team."