Hailo, a Tel Aviv, Israel-based AI chipmaker delivering performance to edge devices, raised $60m in Series B funding.
The round – which brings Hailo’s total funding to $88m – was led by existing investors, joined by strategic investors ABB Technology Ventures, NEC Corporation and Latitude Ventures.
The company intends to use the funds to accelerate the ongoing global rollout of its Hailo-8 Deep Learning chip and to reach new markets and industries worldwide.
Led by Chairman Zohar Zisapel and Orr Danon, CEO and Co-Founder, Hailo recently launched Hailo-8, its Deep Learning processor for smart devices operating at the edge, including partially autonomous vehicles, smart cameras, smartphones, drones and AR/VR platforms.
The company was founded in 2017.