Artificial Intelligence chipmaker company, Hailo secured $136 million in Series C Funding round


Hailo, an Israel based Artificial Intelligence chipmaker, has now secured $136 million in a Series C funding round.

Hailo is founded by Orr Danon. It is an Artificial Intelligence-focused, Israel based chipmaker which has developed a highly specialized AI processor that delivers a performance of a data center class computer to edge devices.

The AI processor enables smart devices to perform sophisticated deep learning tasks such as segmentation and object detection in a real-time scenario, with decreased power computation, cost, and size.

Apart from that, Hailo has also recently announced a collaboration with Macnica, a leading global semiconductor distributor in Japan.

Executive Opinion

Danon, the co-founder and CEO, said, "We are now in the market with the Hailo 8, and people are very excited because of its efficiency. However, we want to expand our offering. It’s not a one size fits all, so we are also investing in software."

Mooly Eden, former Senior VP at Intel Corporation, said, "In the coming years, AI will become the defining feature for creating new business value and reshaping user experience as we know it. The ability to bring AI-based features to market will increasingly be the deciding factor over whether companies succeed or fail. Hailo’s innovative and hyper-efficient processor architecture addresses the growing demand for a new kind of chip to handle these new types of workloads, challenging traditional computing solutions."

Hailo's Latest Funding

Gil Agmon and Poalim Equity led the latest funding round for Hailo. Other participating investors include ABB Technology Ventures, Comasco, Shlomo Group, Automotive Equipment, Talcar Corporation Ltd, OurCrowd, Latitude Ventures, and Carasso Motors.

Post funding, Eyal Waldman, Co-Founder and former CEO of Mellanox Technologies, will now join its advisory board and Mooly Eden, former Senior VP at Intel Corporation, will join Hailo Board of Directors team, notes the announcement.

The company, which has secured $224 million in total funding, as of now has plans to use the new funds to address interest in the Hailo-8 AI Processor for the Edge Devices, to further develop its next-gen products and expand into global markets.
PC: Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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