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Hailo Raises $120M in Extended Series C Funding

Finsmes 2024.04.02 22:42

Hailo, a Tel Aviv, Israel-based chipmaker of edge artificial intelligence (AI) processors, raised $120m in extended series C funding.

The new funding 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.

The company, which has raised more than $340m to date, intends to use the funds to continue to expand operations and its development efforts.

Led by CEO and Co-Founder Orr Danon, Hailo is an edge AI-focused chipmaker developing specialized AI processors that enable data center-class performance on edge devices. The processors enables 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.
The company also announced the introduction of its Hailo-10 high-performance generative AI (GenAI) accelerators that usher in an era where users can own and run GenAI applications locally without registering to cloud-based GenAI services. Hailo will begin shipping samples of the Hailo-10 GenAI accelerator in Q2 of 2024.
Since its founding in Israel in 2017, the company has become a global supplier of intelligent AI chips that
serves more than 300 customers around the world. The company has offices in the United States,
Europe, Japan, South Korea, China, and Taiwan.

FinSMEs

02/04/2024

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