- Israel-based artificial intelligence chipmaker startup Hailo raised $340 million to date and is valued at $1.2 billion
- Early applications of Hailo-10 will target personal computers and automotive infotainment systems, increasing the processing power of the central processing unit (CPU).
Israel-based chipmaker Hailo raised US$120 million in a new funding round valuing the company at US$1.2 billion and released a high-performance generative artificial intelligence chip.
Development of Hailo
Hailo said Tuesday that some Israeli firms and family offices participated in the funding round, including Delek Motors Ltd., OurCrowd Ltd., and Poalim Equity Ltd.
The investment is part of an extended Series C funding round, bringing the company’s total funding to date to $US340 million and valuing Hailo at US$1.2 billion.
According to Reuters, Hailo CEO and Co-Founder Orr Danon said, “We are hoping to use the new funds to accelerate our growth and execute faster on our roadmap.”
“Based on this and given the right market conditions, our aim is to become a publicly traded company,” he added.
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High-performance generative AI accelerator Hailo-10
Since the launch of OpenAI’s ChatGPT, investors have increasingly backed AI startups.
Hailo said they have launched the high-performance generative AI accelerator “Hailo-10”, which will help users run GenAI applications locally without having to sign up for the cloud-based GenAI service, and will start shipping samples in the second quarter of this year.
The early applications of the Hailo-10 will target personal computers and automotive infotainment systems, boosting the processing capabilities of central processing units (CPUs).
