- Hailo, an Israel-based chipmaker, raised $120 million in a new funding round, valuing the company at $1.2 billion. This brings their total investment to over $340 million since their inception in 2017.
- The company launched the Hailo-10 high-performance generative AI accelerator, allowing users to run GenAI applications locally without relying on cloud-based services. Early applications target personal computers and automotive infotainment systems, enhancing CPU processing capabilities.
Israel-based chipmaker Hailo has raised $120 million in a new funding round, valuing it at $1.2 billion, and released a high-performance generative AI chip, the company said on Tuesday.
Hailo raises funds with strong support from key players in the industry
Israel-based semiconductor company Hailo has secured an impressive $120 million in its latest funding round, propelling its valuation to a substantial $1.2 billion. The funding was spearheaded by a mix of existing and new investors, showcasing strong support from key players in the industry. Notable backers include the Zisapel family, Comasco, a provider of construction tools, and the online venture investing platform OurCrowd.
CEO and co-founder Orr Danon expressed optimism about the company’s future trajectory, highlighting the intention to leverage the fresh capital to fuel growth initiatives and potentially transition into a publicly traded entity. This ambitious move signifies Hailo’s confidence in its innovative technologies and market potential.
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Investors’ attitudes towards Hailo reflects hot trend in AI
Hailo’s diverse clientele, which includes industry giants like Schneider Electric, Dell Technologies, and ABB, underscores the company’s reputation for delivering advanced AI accelerators and software solutions.
With the unveiling of their groundbreaking Hailo-10 high-performance generative AI accelerator, Hailo aims to revolutionize AI processing by enabling users to execute GenAI applications locally, bypassing the need for cloud-based services. This strategic shift aligns with the increasing demand for efficient edge computing solutions across various industries.
As the tech landscape continues to evolve rapidly, investments in AI startups like Hailo reflect a broader trend of innovation and disruption. Companies will embrace advanced AI solutions to drive industry competitiveness and foster rapid innovation.
