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Israel’s Hailo AI Chip Company Raises $136 Million In Series C Funding

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Hailo, is a manufacturer of chips that enable edge devices with artificial intelligence capabilities, such as smart cameras or smart cars.

Ai hailo chip 136m 1blundentechcrunch

Ai-based chip maker company hailo announced that it has raised $136 million in a Series C fundraising round, which is thought to be the largest in the history of the edge AI chip market

With this round, Hailo’s total fundraising now stands at $224 million. According to a person with knowledge of the business, the investment gives Hailo a value of over $1 billion, making it Israel’s newest unicorn—a private firm with a value of $1 billion or more.

Existing investors also participated in the round, including well-known Israeli businessman Zohar Zisapel, chairman of Hailo and creator of the RAD Group, as well as Latitude Ventures in London, Switzerland, and OurCrowd in Israel.

About The Company

Hadar Zeitlin, CEO Orr Danon, and Avi Baum, all former members of a top IDF tech unit, created Hailo in 2017. The business created the Hailo-8 processor, which may be used in a variety of smart machines and gadgets

According to the business, it is the result of a “rethinking” of conventional computer and chip design and enables smart devices to carry out complex deep learning activities in real-time, including object detection and segmentation, with a minimum amount of power consumption, size, and expense.

Hailo explained in the press release, the chip paves the way for a vision of smarter edge products by offering smart devices the same performance as that offered by large data centre computers.

Future Planning Of Hailo

As more businesses look for AI solutions that empower sensors and smart devices, Hailo claims that in just this year alone, their customer base has doubled to more than 100 companies. 

In addition, we intend to broaden our product line by introducing fresh software items that will complement and improve what we already have while also opening up new markets and applications.

Hailo is constructing the next generation of our technology, which is a great effort, in addition to extending both the portfolio it offers and the markets and products, it can target. 

As the tech industry shifts from an emphasis on centralising all processing in the cloud to the edge, in an effort to lower latency, minimise bandwidth costs, and create a more solid platform that isn’t dependent on network access, demand for powerful, intelligent AI processors is rising swiftly.

According to recent research, the market for AI chips worldwide was valued at $9.29 billion in 2019 and is projected to grow by about 3,000% to $253 billion by 2030.

Working System Of Hailo

In the upcoming years, AI will take centre stage in generating fresh commercial value and revolutionising the user experience, according to Eden’s statement. “Companies’ success or failure will increasingly depend on their ability to introduce AI-based capabilities to the market.

In response to the growing need for a new sort of chip to handle these novel types of workloads, which pose a challenge to conventional computing solutions, Hailo developed a revolutionary and extremely efficient processor design.

Conclusion

The company, according to Danon, was “honoured by this milestone round for an edge AI chip company and will use these considerable resources to drive our aggressive ambition to deliver cutting-edge AI edge solutions more affordable to sectors around the world. This amazing support is evidence.

We look forward to empowering increasingly smarter and faster devices and, in turn, a more robust future powered by AI as a result of this fantastic support for our unmatched edge AI product range.

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