PR83151

TEL AVIV, Israel, Mar. 5, 2020, /PRNewswire=KYODO JBN/--

Hailo [https://hailo.ai/ ], the leading AI chipmaker delivering unprecedented

performance to edge devices, today announced it has raised $60 million in

Series B funding. The round, led by existing investors, was joined by key

strategic investors including ABB Technology Ventures (ATV) – the strategic VC

arm of ABB, a global leader in industrial automation and robotics; NEC

Corporation – a leader in the integration of IT and network technologies; and

London-based VC firm Latitude Ventures. The funding will be used by Hailo to

bolster the ongoing global rollout of its breakthrough Hailo-8 Deep Learning

chip and to reach new markets and industries worldwide.

"We are very impressed with Hailo's product and team and believe their novel

deep learning processor will help advance different Industry 4.0 applications,"

said Kurt Kaltenegger, Head of ABB Technology Ventures. "We look forward to

combining Hailo's solution with our cutting-edge industrial technology as an

important piece of the puzzle to drive the digital transformation of

industries."

"Hailo's technology is a leading-edge solution for high-performance, low power,

and cost-effective processing at the edge," said Hiroto Sugahara, General

Manager of Corporate Technology Division, NEC Corporation. "Hailo's technology

will help us dive even deeper into the intelligent video analytics market. We

are excited to be a strategic investor in the company and look forward to

incorporating Hailo's technology into our next generation edge-based

products."

The Series B round brings Hailo's total funding to $88 million. It comes on the

heels of the launch of Hailo-8, the company's industry-leading Deep Learning

processor for edge devices. With a totally reimagined chip architecture that

relies on the core properties of neural networks, Hailo's chip empowers devices

to perform sophisticated Deep Learning applications that could previously run

only on the cloud. The Hailo-8 innovative Structure-Defined Dataflow

Architecture translates into higher performance, lower power, and minimal

latency, enabling more privacy and better performance for smart devices

operating at the edge, including partially autonomous vehicles, smart cameras,

smartphones, drones and AR/VR platforms. The Hailo-8 features up to 26 tera

operations per second (TOPS) and significantly outperforms all other edge

processors with its small size, high performance, and low power consumption.

"Hailo is poised to become a defining player in the rapidly emerging market for

AI processors," said Julian Rowe, Partner at Latitude Ventures. "Their Deep

Learning edge chip can be disruptive to so many sectors today, while the new,

innovative use cases Hailo's chips can unlock are just starting to reveal

themselves. We're thrilled to join the team for what lies ahead."

"Hailo's Deep Learning chip is a real gamechanger in industries such as

automotive, industry 4.0, robotics, smart cities, and many more," said Hailo

Chairman Zohar Zisapel. "A new age of AI chips means a new age of computing

capabilities at the edge, and we are excited to lead this transformation."

"This immense vote of confidence from our new strategic and financial

investors, along with existing ones, is a testimony to our breakthrough

innovation and market potential," said Orr Danon, CEO and Co-Founder of Hailo.

"The new funding will help us expedite the deployment of new levels of edge

computing capabilities in smart devices and intelligent industries around the

world, including areas such as mobility, smart cities, industrial automation,

smart retail and beyond."

About Hailo

Hailo [https://hailo.ai/ ], an AI-focused, Israel-based chipmaker, has

developed a specialized Deep Learning processor that delivers the performance

of a data center-class computer to edge devices. With a totally reimagined chip

architecture that relies on the core properties of neural networks, Hailo's

chip empowers devices to perform sophisticated Deep Learning applications that

could previously run only on the cloud. The Hailo-8 innovative

Structure-Defined Dataflow Architecture translates into higher performance,

lower power, and minimal latency, enabling more privacy and better performance

for smart devices operating at the edge, including partially autonomous

vehicles, smart cameras, smartphones, drones and AR/VR platforms. The company

was founded in 2017 by members of the Israel Defense Forces' elite technology

unit.

Press Contact:

Garrett Krivicich

Headline Media

garrett@headline.media

+1-786-233-7684

SOURCE: Hailo