Lidar developer Innoviz in talks to merge with SPAC
December 7, 2020
Israeli lidar and sensor maker Innoviz Technologies is in talks to merge with special-purpose acquisition company Collective Growth Corp., Bloomberg reported. The SPAC is looking to raise up to $350 million to support a deal that would value the combined entity at around $1 billion. Innoviz is currently backed by investors including China Merchants Capital, Samsung Catalyst and New Alliance Capital.