AI Chipmaker Hailo Raised $136 Million
12 October, 2021
Hailo provides Deep Learning Processor chips. During the current capital raising it achieved $1 Billion Valuation - eight times larger compared to its March 2020 Valuation
The Tel Aviv-based AI (Artificial Intelligence) chipmaker Hailo announced it 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. Techtime has learned that during this raising, Hailo achieved $1 billion valuation – eight times larger compared to its value during March 2020 capital raising of $60 million. In addition, Mooly Eden, former Senior VP at Intel, will join Hailo’s board of directors, and Eyal Waldman, Co-Founder and former CEO of Mellanox Technologies, will join its advisory board.
Hailo has developed the specialized Hailo-8 Deep Learning Processor delivers up to 26 Tera Operations Per Second (TOPS). The chip is built with an innovative architecture that enables edge devices to run sophisticated deep learning applications that could previously only run on the cloud. It typically consumes power of up to 2.5W.
On October 2020 Hailo launched its Hailo-8-based M.2 and Mini PCIe high-performance AI acceleration modules for empowering edge devices. Hailo reported that it has doubled its customer base to more than 100 clients over the last two fiscal quarters of 2021. Over the last year, Hailo opened offices in Tokyo, Taipei, Munich, and in the Silicon Valley. Recently it announced a partnership with Macnica, a leading global semiconductor distributor in Japan.
AI is Make or Brake
“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 be the deciding factor over whether companies succeed or fail,” said Mooly Eden. “Hailo’s 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.”
This round was joined by existing investors, including prominent Israeli entrepreneur and Hailo Chairman Zohar Zisapel, Swiss-based ABB Technology Ventures (ATV), London’s Latitude Ventures, Israel’s OurCrowd, and new investors, including Carasso Motors, Comasco, Shlomo Group, Talcar Corporation Ltd., and Automotive Equipment (AEV) [Machshiri Tnua]. “We are honored by this milestone round for an edge AI chip company,” said Orr Danon, CEO and Co-Founder of Hailo. “We look forward to empowering even smarter and swifter devices.”