Innoviz Inks Distribution Deal With Joowon Industrial For South Korean Market

Innoviz Technologies Ltd INVZ has signed a cooperation agreement with testing equipment distributor Joowon Industrial to drive LiDAR sales in the Korean market.
Joowon Industrial uses TADS (Thermography Auto analysis Diagnosis System) for powerline inspection and analysis.
The next generation of Joowon's TADS system will use Innoviz's LiDAR to quickly and accurately build a 3D model of the power lines and surrounding vegetation to reduce cost and improve inspection efficiency.
Joowon will serve as a distributor for Innoviz to accelerate the adoption of LiDAR solutions for applications across industries.
Price Action: INVZ shares closed lower by 7.37% at $3.77 on Monday.

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