Hailo Raised $12.5 Million to Develop AI Processor
10 June, 2018
"We have completely redesigned the pillars of computer architecture – memory, control and compute – and the relations between them. The current 70-year old processor's architecture is inadequate for AI needs"
A newcomer to the emerging Artificial Intelligence semiconductor’s chips, Hailo from Tel Aviv, completed of a $12.5 million Series A round with the participation of investors such as Ourcrowd.com, Maniv Mobility, the Drive accelerator fund: Next Gear; as well as angel investors, Hailo Chairman Zohar Zisapel and Delek Motors CEO Gil Agmon. The company will use the funding to further develop its deep learning processor, which will deliver datacenter processing capacity to edge devices. This latest funding round brings the total raised by the company to $16 million.
Hailo plans initial samples of it deep learning processor for H1 2019. They will be able to run embedded AI applications on edge devices in autonomous vehicles, drones, personal assistants and smart home appliances such as smart cameras and smart TVs. “The 70-year old architecture of existing processors is inadequate to meet today’s deep learning and AI processing needs,” said Orr Danon, Hailo CEO. “We are revolutionizing the underlying processor’s architecture to boost deep learning processing by several orders of magnitude. We have completely redesigned the pillars of computer architecture – memory, control and compute – and the relations between them.”
Military know how goes to the Edge
The automotive industry, which is one of Hailo’s key target markets, is undergoing a major disruption, rapidly adopting deep learning methods to enable advanced driver assistance systems (ADAS) and autonomous driving applications that require continuous sensing of surroundings. According to IC Insights, Integrated Circuits used in automobiles and other vehicles are expected to generate global sales of $42.9 billion in 2021, compared to $22.9 billion in 2016. Existing general-purpose processor infrastructure cannot efficiently run compute-intensive deep learning algorithms necessary for these applications.
Hailo’s development team leaders include senior hardware and software engineers, many of whom served in top technology units in the IDF and worked for companies like Intel, Broadcom and Mellanox. The CEO Orr Danon served in a top Israel Defense Forces technology unit and is a recipient of the Israel Defense Prize. The CTO Avi Baum held senior engineering management positions at Texas Instruments, including the CTO for the Wireless Connectivity Group. The Chief Business Development Officer Hadar Zeitlin, also served in the same IDF technology unit for nine years and was awarded the Chief of Staff Prize for technological excellence.
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