Israeli edge AI chipmaker Hailo today announced it has extended its series C financing round with an additional investment of $120 million. This is an extension of the round in October 2021, when the company raised $136 million at a company valuation of $1.13 billion. The latest financing was led by current and new investors including the Zisapel family, Gil Agmon, Delek Motors, Alfred Akirov, DCLBA, Vasuki, OurCrowd, Talcar, Comasco, Automotive Equipment (AEV), and Poalim Equity. This brings to $340 million the amount raised by the company.
Hailo also announced the introduction of its innovative Hailo-10 high-performance generative AI (GenAI) accelerators enabling users to own and run GenAI applications locally, without registering to cloud-based GenAI services.
Hailo is developing specialized AI processors that enable data center-class performance on edge devices. Hailo’s processors are the product of a rethinking of traditional computer architecture, enabling smart devices to perform sophisticated deep learning tasks such as object detection and segmentation in real-time, with minimal power consumption, size, and cost. The processors are designed to fit into a multitude of smart machines and devices, impacting a variety of sectors including compute, automotive, security, industry 4.0, and retail.
Hailo CEO and cofounder Orr Danon said, "The closing of our new funding round enables us to leverage all the exciting opportunities in our pipeline, while setting the stage for our long-term future growth. Together with the introduction of our Hailo-10 GenAI accelerator, it strategically positions us to bring classic and generative AI to edge devices in ways that will significantly expand the reach and impact of this remarkable new technology. We designed Hailo-10 to seamlessly integrate GenAI capabilities into users’ daily lives, freeing users from cloud network constraints. This empowers them to utilize chatbots, copilots, and other emerging content generation tools with unparalleled flexibility and immediacy, enhancing productivity and enriching lives."
Published by Globes, Israel business news - en.globes.co.il - on April 2, 2024.
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