Innoviz Technologies receives $3.5M in defense LiDAR orders

Innoviz Technologies (NASDAQ: INVZ) has received approximately $3.5 million in orders from a defense customer for several hundred LiDAR units, according to a company press release. The units are intended for counter-drone systems and perimeter intrusion detection applications.

The Israel-based LiDAR maker said additional unit orders are expected if the first deployment is completed successfully.

The orders were placed under Innoviz's Perciz brand, which the company uses to market its existing automotive-grade LiDAR sensors for defense and homeland security applications.

Omer Keilaf, CEO and founder of Innoviz, said in a statement: "Detecting a threat is just the first step. Knowing precisely where it is, in real time, in conditions that blind other sensors, is what could separate an alert from an effective response."

The announcement follows recent activity in Innoviz's defense segment. The company said it has entered collaborations with several defense and counter-drone providers in recent weeks. In July, Maj. Gen. (Ret.) Yoav Har-Even, former president and CEO of Rafael Advanced Defense Systems, joined Innoviz's board of directors.

Innoviz did not disclose the identity of the defense customer placing the orders.

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