AI chip specialist Hailo raises $120m
Israel-based chipmaker Hailo has completed a new fund raise to bring its lifetime total to $340m since 2017.
The firm is undoubtedly benefiting from the clamour among investors to back companies that can ride the AI boom. Hailo fits the bill, having developed a proprietary processing architecture for deep learning on edge devices. It currently has more than 300 customers including Schneider Electric, Dell Technologies and ABB for its AI accelerators and AI software suite.
The USD 120 million round was led by existing and new investors including the Zisapel family, Gil Agmon, Delek Motors, Alfred Akirov, DCLBA, Vasuki, OurCrowd, Talcar, Comasco, Automotive Equipment (AEV) and Poalim Equity. It brings total investment to more than USD 340 million and values Hailo at USD 1.2 billion.
“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,” said Hailo CEO Orr Danon.“
At the same time as the fund raising announcement, Hailo also confirmed the launch of its Hailo-10 high-performance generative AI accelerator, which will help users to run GenAI applications locally without registering on cloud-based GenAI services. It will begin shipping samples in Q2.
