Chipmaking Startup Secures $120M Funding and Unveils Innovative Edge Chip

Israeli chip startup Hailo has successfully raised $120 million in an extension of its Series C funding round, aimed at developing innovative hardware to power generative AI applications. Established in 2017, Hailo specializes in creating accelerators that allow users to implement generative AI solutions at the edge of networks. The company has expanded its operations into the U.S., Europe, and Taiwan, accumulating over $340 million in total funding to date.

This latest funding round was co-led by key investors such as the Zisapel family, Delek Motors, and DCLBA, with notable participation from OurCrowd, Automotive Equipment, and angel investors including Delek Motors CEO Gil Agmon and Israeli entrepreneur Alfred Akirov.

Hailo’s technological advancements have attracted around 300 customers across various sectors, including automotive, retail, and security. Their chips have been utilized in applications such as autonomous tractors, smart retail cameras, and vehicle monitoring systems for parking operators. Additionally, Hailo offers a suite of software tools, including vision processing systems designed to enhance smart camera capabilities, as well as a development kit that enables users to create AI applications compatible with Hailo devices.

A major highlight for Hailo is the announcement of its new Hailo-10 GenAI accelerator chip. This cutting-edge chip is engineered to significantly enhance the performance of AI applications at the edge while minimizing power consumption. The Hailo-10 claims to provide twice the processing power of Intel’s Core Ultra NPU while operating on half the energy, making it a highly attractive option for developers and enterprises.

Orr Danon, Hailo’s CEO and co-founder, articulated the significance of this funding: “The closing of our new funding round allows us to pursue numerous exciting opportunities within our pipeline, setting the foundation for our long-term growth.” Danon emphasized that with the launch of the Hailo-10 GenAI accelerator, Hailo is strategically positioned to advance both classical and generative AI into edge devices, thereby broadening the reach and impact of this revolutionary technology.

Looking ahead, Hailo plans to target new applications for the Hailo-10, specifically in personal computers and car infotainment systems. Sample units of the Hailo-10 are expected to start shipping in the second quarter of 2024. Danon remarked, “Whether users intend to utilize generative AI for real-time translation, software code generation, or creating images and videos from text prompts, the Hailo-10 empowers them to achieve this directly on their PCs or other edge systems, all without overburdening the CPU or draining the battery.”

With these advancements, Hailo is poised to lead the next wave of innovation in the realm of edge AI technology, setting a formidable precedent in the industry.