As we evaluated in Bizportal, the agreement of the Israeli lidar company Inviz
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, is in front of the German car giant Volkswagen. After three months that the name was not officially revealed, Inviz announces that it is the company CARIAD, the software division of Volkswagen, which has chosen Inviz as the lidar supplier for the field of autonomous vehicles of the Volkswagen Group. It is about using the Invis system as well as its sensing software.
As far as Inviz is concerned, this is the third win for a large manufacturer – but this time it is a win as a direct supplier, and the scope is even more significant. Following the two previous agreements, Inviz’s order backlog reached $2.6 billion, and after the deal with Volkswagen, the backlog increased to $6.6 billion.
Lidar (LiDar) is a kind of radar that is used as eyes for the autonomous vehicle, based on a beam of light, it is an abbreviation of Light-RADAR. The company’s development is a solid-state lidar, meaning that instead of a camera or sensor that rotates on an axis, the device itself can take in the entire environment of the vehicle.
Omer Khilaf, co-founder and CEO of Inviz says today: “We are excited to work with the CARIAD team as suppliers of lidar sensors and sensing software, in order to support safe mobility in vehicles that will be launched starting in the middle of the decade. CARIAD is a leading player in the transformation of the entire autonomous space and we are proud to be a part of this mission.”
In an interview with Bizportal following the win, Khilaf said “This is a deal with a company that is 10% of the market – the entire industry has been waiting on the fence until now. From here our company is going to change.” Referring to the feelings and tension he himself was in during the period before the signing, Kilf said: “I had many sleepless nights, investors gave up along the way.
“I went through a difficult year when we saw the stock drop. You work on the project and at the same time tell the market that it is still being worked on, and then it is postponed again, and again it is postponed and the investors lose patience. And now we are putting a big win on the table.”
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