Innoviz Signs Strategic Agreement with Drive Group, Aiming for $20M Sales
Innoviz Technologies and Drive Group, comprising six transportation and infrastructure companies in Israel, signed a strategic collaboration agreement. The agreement is designed to promote the integration of Innoviz's existing LiDAR technology - InnovizSMART - into Drive Group's Intelligent Transportation Systems, or ITS, and perimeter security solutions, with a specific focus on the joint project "Barak LightGuard." Drive Group issued an upfront purchase order to Innoviz, to purchase InnovizSMART units for integrating them into Drive's Barak LightGuard systems with the goal of accelerating global market adoption in the fields of precise drone localization, critical infrastructure, border security, and Intelligent Transport Systems and achieving a sales target of $20M by the end of 2027. The collaboration aims to combine Innoviz's outstanding LiDAR capabilities with Drive Group's operational expertise in ITS systems and perimeter security solutions.