Hot on the heels of Ouster’s fresh fundraising round, Israeli lidar startup this week announced that it, too, has secured additional venture capital — and an enormous amount of it, to boot. says it’s raised $132 million in series C financing led by China Merchants Capital, with participation from Shenzhen Capital Group, New Alliance Capital, Harel Insurance Investments and Financial Services, and Phoenix Insurance Company. It’s keeping the round open, and expects a second closing in the coming months.

The series C — which comes after a $65 million series B in September 2017 and a $9 million series A in 2016 — brings Innoviz’s total raised to a whopping $214 million, which CEO Omer Keilaf says will help to further its research and development

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