Leading AI chipmaker Hailo has raised $136 million in a Series C funding round led by Poalim Equity and Gil Agmon. The round brings Hailo's total funding to $224 million. In a world with skyrocketing demand for advanced, intelligent AI chips for countless industries, this funding will be used to address surging interest in the Hailo-8™ AI Processor for Edge Devices, allowing the company to further develop its next-generation products and expand into both new and existing global markets.
"We will use these significant resources to accelerate our aggressive plan to make advanced AI edge solutions more accessible to industries across the globe," said Orr Danon, CEO and Co-Founder of Hailo.
With a unique, reimagined architecture based on the neural networks of the human brain, the Hailo-8™ delivers the same performance for smart devices as that provided by large data center computers, paving the way for a future of smarter edge products. Hailo's chip enables enterprises to harness the power of AI at lower costs and higher efficiency. In light of ever-expanding demand, Hailo has been consistently expanding its product line, recently launching both its M.2 and Mini PCIe high-performance AI acceleration modules for empowering edge devices.
"In the coming years, AI will become the defining feature for creating new business value and reshaping user experience as we know it. The ability to bring AI-based features to market will increasingly be the deciding factor over whether companies succeed or fail," said former Intel executive Mooly Eden. "Hailo's innovative and hyper-efficient processor architecture addresses the growing demand for a new kind of chip to handle these new types of workloads, challenging traditional computing solutions.”