AI chipmaker for Edge Devices, Halio secures $60 Million in funding

Hailo has secured $60 Million in Series B funding.

The latest investment round brings Hailo’s total funding to $88 Million. Existing investors led the funding round and strategic investors ABB Technology Ventures, NEC Corporation and Latitude Ventures also joined the same round.

Tel Aviv based Hailo plans to leverage newly raised funds for its inflight global rollout of Hailo-8 Deep Learning chip, expand into new markets and industries globally.

Executive Opinion

Hailo Chairman Zohar Zisapel, said, "Hailo's Deep Learning chip is a real gamechanger in industries such as automotive, industry 4.0, robotics, smart cities, and many more. A new age of AI chips means a new age of computing capabilities at the edge, and we are excited to lead this transformation."

CEO and Co-Founder of Hailo, Orr Danon, said, "This immense vote of confidence from our new strategic and financial investors, along with existing ones, is a testimony to our breakthrough innovation and market potential. The new funding will help us expedite the deployment of new levels of edge computing capabilities in smart devices and intelligent industries around the world, including areas such as mobility, smart cities, industrial automation, smart retail and beyond."

The Hailo-8 and Latest funding

In May 2019, The Hailo recently launched its Hailo-8, a Deep Learning processor for edge devices. Hailo-8 features up to 26 tera operations per second (TOPS). The announcement claims that the processor significantly outperforms all other edge processors with its small size, high performance, and low power consumption. 

PC: Hailo-8TM Deep Learning Chip Scale

The processor boosts Structure-Defined Dataflow Architecture. It consumes less power, has minimal latency and also has high performance. The processor is best suited for autonomous vehicles, smart cameras, smartphones, drones and AR/VR platforms, notes the announcement.

With this funding round, investors join in Hailo to empower a new age of robust Artificial Intelligence-driven edge computing. At Edge devices, Hailo's chip allows sophisticated Deep Learning applications. Previously, such applications were only possible in cloud platforms earlier, notes the announcement.