Artificial intelligence (AI) chipmaker Hailo has raised $136 million in a Series C funding round led by Poalim Equity and Gil Agmon, the company announced Tuesday.
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The 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]. In addition, Mooly Eden, former Senior VP at Intel Corporation, will join Hailo's board of directors, and Eyal Waldman, co-Founder and former CEO of Mellanox Technologies, will join its advisory board.
The round brings Hailo's total funding to $224 million. In a world with skyrocketing demand for advanced, intelligent AI chips for countless industries, this funding will be used to address surging interest in the Hailo-8 AI Processor for Edge Devices, allowing the company to further develop its next-generation products and expand into both new and existing global markets.
"We are honored by this milestone round for an edge AI chip company and will use these significant resources to accelerate our aggressive plan to make advanced AI edge solutions more accessible to industries across the globe," said Hailo co-founder and CEO Orr Danon, "This tremendous support is a testament to our unparalleled edge AI product line, and we look forward to empowering even smarter and swifter devices, and thus, a more robust future powered by AI."
