The edge AI chip market’s largest investment round in history, worth $136 million, was disclosed by Hailo, a startup that produces chips for edge devices with artificial intelligence capabilities, such as smart cameras and smart autos. After this round, Hailo received $224 million in total capital.
According to a source acquainted with the business, Hailo has a worth of over $1 billion as a result of the investment, making it Israel’s newest unicorn—a private firm with a value of $1 billion or more.
In products like autonomous vehicles, drones, and smart home appliances like personal assistants, smart cameras, and smart TVs, as well as the internet of things, augmented reality, and virtual reality platforms, wearables, and security goods, edge devices are electronic components installed at the edge of networks or the point at which networks enter a given environment.
The investment in Hailo was driven by Poalim Equity and Gil Agmon, the CEO of Delek Motors. This publicly traded company is the sole importer of Mazda, Ford, and BMW automobiles and products in Israel.
Other investors included renowned Israeli billionaire Zohar Zisapel, the creator of the RAD Group and chairman of Hailo, as well as ATV in Switzerland, Latitude Ventures in London, and OurCrowd in Israel.
In accordance with the deal, Eyal Waldman, the co-founder and former CEO of Mellanox Technologies, which was sold to Nvidia in 2019 for $7 billion, will join Hailo’s advisory board in addition to Mooly Eden, a former senior vice president at Intel Corporation.
Hadar Zeitlin, the CEO of Hailo, Avi Baum, and other former members of a top IDF tech unit started the company in 2017.
The Hailo-8 processor was created by the firm and is intended to work with a variety of smart appliances and gadgets. The company claims that it is the product of a “rethinking” of conventional computer and chip design, allowing smart devices to do intricate deep learning tasks like object detection and segmentation in real time with little power, size, and expense.
According to Hailo in the release, the chip “paves the way for a future of smarter edge products” by providing smart devices with the same performance as giant data center computers.
As more companies look for AI solutions that empower sensors and smart devices, Hailo claims that its customer base has doubled this year alone to more than 100 clients.
Danon claims that with the additional capital, the business plans to scale its operations in response to the rising demand for its Hailo-8 processor and expand its sales, customer service, and back-office engineering teams internationally. Danon said the following.
“They also want to grow the product line by introducing fresh software items to improve and complete what they now have while also tapping into new markets and applications.
The most effort is going into developing the next generation of their technology, which will allow us to target more markets and increase the range of items they can offer, according to the executive. With relatively little power usage, he continued, “Their processor performs all these functions.”
The tech industry is moving away from a focus on centralizing all processing in the cloud to the edge in an effort to reduce latency, lower bandwidth costs, and provide a more solid platform independent of network access, which is driving up demand for powerful, intelligent AI chips.
According to recent research, the worldwide AI chip market, valued at $9.29 billion in 2019, will grow by approximately 3,000% to $253 billion by 2030.
Hailo established a wholly owned subsidiary in Tokyo last summer to deepen its ties with current clients in Japan and broaden its reach into the Asia-Pacific market. Additionally, the business inked an agreement in August to sell its goods in Japan with Macnica, a major international distributor of semiconductors.
According to Eden’s remark, “In the years to come, AI will become the defining feature for generating new business value and redefining user experience as they know it.” “Companies’ success or failure will increasingly depend on their ability to introduce AI-based capabilities to the market.
Hailo’s revolutionary and hyper-efficient processor architecture answers the growing demand for a new sort of chip to tackle these new types of workloads, challenging established computing solutions.”
Hailo established a wholly owned subsidiary in Tokyo last summer to deepen its ties with current clients in Japan and broaden its reach into the Asia-Pacific market. Additionally, the business inked an agreement in August to sell its goods in Japan with Macnica, a major international distributor of semiconductors.
According to Eden’s remark, “In the years to come, AI will become the defining feature for generating new business value and redefining user experience as they know it.” “Companies’ success or failure will increasingly depend on their ability to introduce AI-based capabilities to the market.
Hailo’s revolutionary and hyper-efficient processor architecture answers the growing demand for a new sort of chip to tackle these new types of workloads, challenging established computing solutions.”
Faq’s
Israel
$136M
Series C
Over $1 Billion
$224 million
