This is the company's third round of layoffs in recent years: 13% of staff were cut in early 2024 and another 9% in early 2025. At the end of 2025 Innoviz had about 370 employees, 344 of them in Israel, mostly in R&D.
Innoviz listed on Nasdaq through a SPAC merger in 2021 at a $1.4 billion valuation and is now worth about $66 million. According to Geektime, its sensor has so far reached only two BMW models, and the slowdown in autonomous driving has reduced the number of tenders for automotive LiDAR.
The company has recently turned to defense, especially counter-drone systems, where its LiDAR is integrated into detection and tracking solutions. According to Globes, Mobileye, which shut down its own LiDAR development, works with Innoviz, and former Rafael CEO Yoav Har-Even recently joined its board. The company has not issued an official statement on the size of the layoffs.
