Hailo, an AI chipmaker delivering unprecedented performance to edge devices, raised $60 million in Series B funding.
The funding round was led by existing investors with participation from ABB Technology Ventures (ATV), the strategic venture capital arm of ABB, NEC Corporation, and London-based venture capital firm Latitude Ventures.
The company will use the funding to bolster the ongoing global rollout of its Hailo-8 Deep Learning chip and reach new markets and industries worldwide.
The Series B funding round brings Hailo’s total funding to date to $88 million.
Hailo is an AI-focused, Israel-based chipmaker. The company has developed a specialized Deep Learning processor that delivers the performance of a data center-class computer to edge devices.
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.
The Hailo-8 features up to 26 tera operations per second (TOPS) and significantly outperforms all other edge processors with its small size, high performance, and low power consumption.
“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.”
Orr Danon, CEO and Co-Founder of Hailo, said: “The new funding will help us expedite the deployment of new levels of edge computing capabilities in smart devices and intelligent industries around the world, including areas such as mobility, smart cities, industrial automation, smart retail and beyond.”
Image Credit: Hailo