Hailo, an edge artificial intelligence (AI) focused chipmaker, has raised $120 million in Series C funding.
The funding was led by current and new investors, including the Zisapel family, Gil Agmon, Delek Motors, Alfred Akirov, DCLBA, Vasuki, OurCrowd, Talcar, Comasco, Automotive Equipment (AEV), and Poalim Equity. Since its inception, Halio has raised more than $340 million in the hot AI market.
OurCrowd, the most active venture investor in Israel, enables smaller investors access to participate in the deal, as Accredited Investors may invest in the round via its online investment platform.
While announcing the new funding, Israel-based Hailo also announced its Hailo-10 high-performance generative AI (GenAI) accelerators, where users can own and run GenAI applications locally without registering for cloud-based GenAI services.
Hailo CEO and co-founder Orr Danon said the funding will allow them to set the stage for long-term growth and strategically position the company to bring “classic and generative AI to edge devices in ways that will significantly expand the reach and impact of this remarkable new technology.”
“We designed Hailo-10 to seamlessly integrate GenAI capabilities into users’ daily lives, freeing users from cloud network constraints. This empowers them to utilize chatbots, copilots, and other emerging content generation tools with unparalleled flexibility and immediacy, enhancing productivity and enriching lives.”
Hailo-10 is said to be capable of up to 40 TOPS (tera operations per second), which is said to set a new performance standard for edge AI accelerators.
Hailo-10 is claimed to be faster and more energy efficient than integrated neural processing unit (NPU) solutions and delivers at least 2X more performance at half the power of Intel’s Core Ultra NPU, according to reported benchmarks.
Since its founding in Israel in 2017, Hailo states that it has become a leading global supplier of intelligent AI chips that serves more than 300 customers around the world. The company has offices in the United States, Europe, Japan, South Korea, China, and Taiwan.
The offering is currently available on OurCrowd with details available for registered investors. OurCrowd has been active in the AI sector and also offers an AI Fund, which is also currently accepting investors. When reviewing the Reg D filing, it appears that OurCrowd has invested $500,000 in Hailo.
Update: The Form D filing may be viewed here.
OurCrowd has committed $12,270,000 with about half already being funded.
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