Israeli AutoTech Firm Innoviz Cuts 25% of Workforce Amid Strategic Shift
Translated & summarized from Ice by baba
Israeli auto-tech company Innoviz Technologies is laying off 25% of its workforce, over 90 employees, primarily in Israel. The company is shifting its strategic focus from automotive LiDAR to defense applications, particularly counter-drone systems. This comes as Innoviz's market value has plummeted from $1.4 billion at its 2021 IPO to around $66 million.
The story in 5 lines · by baba
- Innoviz Technologies is cutting 25% of its workforce, impacting over 90 employees, mainly in Israel.
- The company is strategically shifting focus from automotive LiDAR to defense, specifically counter-drone technology.
- Innoviz's market value has fallen drastically from $1.4 billion at its 2021 IPO to approximately $66 million.
- This is the third significant layoff round for Innoviz in under three years.
- Former Rafael CEO Yoav Har-Even has joined Innoviz's board to aid its defense market entry.
Israeli auto-tech company Innoviz Technologies, traded on Nasdaq under the ticker INVZ, is implementing a significant layoff round, reducing its workforce by approximately 25%. This marks the third round of layoffs for the Rosh Ha'ayin-based company in three years, following cuts of 13% in 2024 and 9% in 2025. As of the end of 2025, Innoviz employed 372 people, with the majority, 344, working in research and development in Israel. The current reduction is expected to affect over 90 employees, primarily in Israel.
Innoviz, founded and managed by Omer Kelf, originally developed LiDAR sensor technology for the automotive industry and autonomous driving projects. The company had previously partnered with auto-tech giant Mobileye, which ceased its independent LiDAR development to collaborate with Innoviz. However, Innoviz has recently undergone a strategic pivot, intensifying its focus on the defense sector, particularly counter-unmanned aerial systems (Counter-UAS). Its road-focused technology is now being integrated into systems for detecting, identifying, and tracking aerial threats, with the company reporting several collaborations in this area.
The layoffs and business shift coincide with a sharp decline in the company's market value. Innoviz went public on Nasdaq in 2021 through a SPAC merger at a valuation of $1.4 billion. Currently, its market capitalization stands at approximately $66 million. To bolster its position in the defense market, Innoviz recently added Yoav Har-Even, former CEO of Rafael, to its board of directors.
This news follows a separate report about Israeli IoT company Cartasense filing for urgent court protection and administration to facilitate its economic recovery and sale, citing accumulated debts of about NIS 13 million.
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