AI Microprocessing Chip Developer Hailo Raises $8.5 Million
Hailo develops microprocessing chips for artificial intelligence applications on edge devices used in autonomous cars, UAVs, IoT devices, and smart home appliances
15:0122.01.19
Tel Aviv-based chip developer Hailo Technologies Ltd. has raised an additional sum of $8.5 million, expanding its series A round to $21 million, the startup announced Tuesday. Shanghai-based venture capital fund Glory Ventures led the investment.
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The expansion brings Hailo’s total funding raised to $24.5 million to date. Other investors in the company include Jerusalem-headquartered equity crowdfunding platform OurCrowd, as well as Israel-based automotive venture capital funds Maniv Mobility, and Next Gear Management Ltd.
Hailo co-founders Orr Danon (left), Hadar Zeitlin and Avi Baum. Photo: Eran Tayreeצילום: ערן טיירי
Hailo intends to use the funding to expand its reach to new markets in China and Hong Kong, the company said in a statement.
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Hailo also announced it has opened registration for companies looking to use, evaluate, and build upon its Hailo-8 processor before it officially hits the market.
