The Israeli lidar startup Innoviz is in talks to go public by merging with blank-check firm Collective Growth Corp, Bloomberg reports, whereas Collective Growth Corp is said to be seeking between $100 million to $350 million in additional funding for its merger with Innoviz.

Collective Growth Corp raised $150 million from investors in a public offering this May, money that’ll go towards Innoviz in the case of a merger plus any additional equity it may raise.

Innoviz is an Israeli lidar startup that’s backed by over $250 million in funding from investors including Samsung, SoftBank, Aptiv, and Magna International. It makes lidar sensors which are a key component that caters to vision and distance measurement for self-driving vehicles.

The report of Innoviz’s target to go public by way of a blank-check merger comes just on the heels of another lidar startup, this time the US-based Luminar having just gone public with a reverse merger.

Also, another lidar startup, Aeva, recently sealed an agreement to go public by merging with the blank-check firm InterPrivate Acquisition Corp. 

Earlier this year, the lidar maker Velodyne went public by merging with a blank-check firm, making it the first lidar maker to do so as of its time of debut. Velodyne is known to the biggest lidar maker worldwide, expecting to rake in $100 million in revenue this year.

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