Hailo, a Tel Aviv, Israel-based developer of a proprietary processing architecture for deep learning on edge devices, expanded its Series A funding round by additional $8.5m to $21m.
Glory Ventures led the expansion joined by existing and other new investors.
The company, which had announced the first close of its Series A round, at $12.5m, in June 2018, intends to use the funds to expand its target markets into China and Hong Kong, complementing its existing markets in Europe, North America, Japan and Korea.
Hailo is also opening registration for the Hailo-8 Fast Track program to select customers and is offering these customers the opportunity to evaluate the initial samples of its high-performance, low-power and small-size Hailo-8™ deep learning processor.
Program participants from various sectors will also be able to develop and prototype their own deep learning products based on the Hailo-8 processor.
Beyond the value it delivers to its strategic focus, the automotive market, Hailo’s breakthrough processor technology serves deep learning applications in a wide range of other markets including surveillance, smart home, IoT and industrial, as well as robotics, AR/VR platforms and wearables.
Led by Orr Danon, CEO and co-founder, Hailo is developing a microprocessor based on proprietary technology for deep learning applications, that will deliver data center performance to edge devices. Its processor is designed to fit into embedded devices enabling them to process high-resolution video and other high-throughput streams in real-time using deep learning algorithms while operating at reduced power consumption, size and cost.