Hailo Raises USD 60 Million in Series B Funding Round | Financial Buzz

Hailo Raises USD 60 Million in Series B Funding Round

Hailo is an AI-focused, Israel-based chipmaker, that has developed a specialized Deep Learning processor that delivers the performance of a data center-class computer to edge devices. With a totally reimagined chip architecture that relies on the core properties of neural networks, Hailo’s chip empowers devices to perform sophisticated Deep Learning applications that could previously run only on the cloud. The Hailo-8 innovative Structure-Defined Dataflow Architecture translates into higher performance, lower power, and minimal latency, enabling more privacy and better performance for smart devices operating at the edge, including partially autonomous vehicles, smart cameras, smartphones, drones and AR/VR platforms. 

Hailo reported that it has raised USD 60 Million in its Series B funding round.  Existing investors and new key strategic investors such as ABB Technology Ventures and NEC Corporation.  Funding will be directed towards its continuous push to rollout its Hailo-8 Deep Learning chip globally to reach new markets and industries.  

“We are very impressed with Hailo’s product and team and believe their novel deep learning processor will help advance different Industry 4.0 applications,” said Kurt Kaltenegger, Head of ABB Technology Ventures. “We look forward to combining Hailo’s solution with our cutting-edge industrial technology as an important piece of the puzzle to drive the digital transformation of industries.”

“Hailo’s technology is a leading-edge solution for high-performance, low power, and cost-effective processing at the edge,” said Hiroto Sugahara, General Manager of Corporate Technology Division, NEC Corporation. “Hailo’s technology will help us dive even deeper into the intelligent video analytics market. We are excited to be a strategic investor in the company and look forward to incorporating Hailo’s technology into our next generation edge-based products.”