Innoviz Technologies said it raised $132 million of Series C capital in a round backed by new investors China Merchants Capital, Shenzhen Capital Group and New Alliance Capital. Also in the round were Harel Insurance Investments and Financial Services, and Phoenix Insurance Company.
The Series C round will remain open for a second close in coming months because of demand, the company said. Total funding for the Israeli company has now reached $214 million. Innoviz is developing solid-state LiDAR sensors and perception software.