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HomeFunding Israel-Based Hailo Secures $120 Million in Extended Series C Round Funding

[Funding Alert] Israel-Based Hailo Secures $120 Million in Extended Series C Round Funding

An extended series C fundraising round of $120 million was raised by Hailo, an Israeli chipmaker of edge artificial intelligence (AI) processors located in Tel Aviv.

Leading the latest round of funding were both new and existing investors, such as Gil Agmon, Delek Motors, Vasuki, OurCrowd, Talcar, Comasco, Alfred Akirov, DCLBA, Automotive Equipment (AEV), and Poalim Equity.

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With over $340 million raised so far, the company plans to use the money to keep growing both its operations and its growth initiatives.

Hailo is an edge AI-focused chipmaker led by CEO and Co-Founder Orr Danon that creates customized AI processors to enable data center-class performance on edge devices. With minimum power consumption, size, and cost, smart devices can now do complex deep learning tasks in real-time, like object detection and segmentation.

The processors, which have an impact on a number of industries like computation, automotive, security, industry 4.0, and retail, are made to fit into a wide range of smart machines and gadgets.

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Additionally, the business announced the release of its high-performance generative AI (GenAI) accelerators, called Hailo-10, which will usher in a day when users won’t need to sign up for cloud-based GenAI services in order to own and run GenAI apps locally. In Q2 of 2024, Hailo plans to start shipping samples of the Hailo-10 GenAI accelerator.

Since its establishment in Israel in 2017, the business has grown to become a major worldwide provider of clever artificial intelligence chips, catering to over 300 clients worldwide. The business maintains offices throughout China, Taiwan, South Korea, Japan, Europe, and the United States.

About Hailo

Hailo, an edge AI-focused chipmaker, is developing specialized AI processors that enable data center-class performance on edge devices. Hailo’s processors are the product of a rethinking of traditional computer architecture, enabling smart devices to perform sophisticated deep learning tasks such as object detection and segmentation in real-time, with minimal power consumption, size, and cost.

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