Hailo, a Tel Aviv, Israel-based maker of chips that allows edge devices like smart cameras or smart cars to have artificial intelligence capabilities, raised $136 million in a Series C funding round, considered the largest in the edge AI chip space to date.
The round brings Hailo’s total funding to $224 million, valued at $1 billion or over making it Israel’s latest unicorn.
The round was led by Poalim Equity and Gil Agmon, CEO of Delek Motors, a publicly traded company and the sole importer of Mazda, Ford, and BMW vehicles and products to Israel.
The round, also joined by existing investors including prominent Israeli entrepreneur Zohar Zisapel, founder of the RAD Group and chairman of Hailo, Swiss-based ABB Technology Ventures (ATV), London’s Latitude Ventures, and Israel’s OurCrowd. Vehicle importer Carasso Motors and Shlomo Group joined the round as new investors.
Company: Hailo Technologies Ltd
Round: Series C
Funding Month: October 2021
Lead Investors: Poalim Equity and Gil Agmon
Additional Investors: Zohar Zisapel, ABB Technology Ventures (ATV), London’s Latitude Ventures, OurCrowd, Carasso Motors, and Shlomo Group
Company Website: https://hailo.ai/
Software Category: AI chip
About the Company: Hailo was founded in 2017 by former members of an elite IDF tech unit Hadar Zeitlin, CEO Orr Danon, and Avi Baum. Hailo is an Israel-based deep learning company that develops a breakthrough specialized deep learning microprocessor to deliver data center performance to edge devices. The company aims to drive artificial intelligence to the edge. Its processors enable edge devices to go beyond handling sensors and streaming volumes of data for remote processing–they can do the processing themselves.Hailo’s complete re-think of computer architecture breaks the barriers of traditional paradigms, accelerating the extremely heavy computation of deep neural networks.