OurCrowd portfolio company Hailo has extended its Series A funding round as additional investors gained interest in the firm.
Hailo is a developing a “deep learning processor,” that seeks to empower intelligent devices with the performance of a data center-class computer, operating in real time at minimal power consumption. Uses include autonomous vehicles, drones, and other smart products including wearables.
According to a note from OurCrowd, Hailo has expanded its Series A to $21 million.
Chinese VC firm, Glory Ventures, led the investment-round expansion and was joined by existing and other new investors.
Reportedly, the investment will help the company to expand its target markets into China and Hong Kong, adding to its existing markets in Europe, North America, Japan, and Korea.
Last Summer, OurCrowd participated in the then $12.5 million Series A financing round. Total funding for Hailo now stands at over $24 million for the Tel Aviv based tech firm.
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