Israeli startup Hailo that has developed a proprietary microprocessor for deep learning applications has raised an additional $8.5 million, bringing the total amount of its Series A funding round announced in June to $21 million. The capital injection is led by Chinese VC firm Glory Ventures.
Hailo, which is currently active in Europe, North America, Japan, and Korea, plans to use the funding to expand in China and Hong Kong. The company currently focuses on marketing its innovative chip architecture towards the automotive industry but says that it can be adapted for the needs of IoT, robotics, AR/VR, and other applications.
In addition to the fresh funding, Hailo has announced the launch of its Hailo-8 Fast Track programme, under which the company offers chosen prospective customers to evaluate the prototypes of its Hailo-8 chips. According to the company, the chips deliver the performance of data centres to edge devices, allowing, for example, to process high-definition video streams from cameras and LiDAR systems in self-driving cars.
“The upcoming samples of our Hailo-8 processor will help players in multiple markets overcome the daunting barriers of sufficiently low power consumption, size and cost which currently prevent them from deploying intense deep learning capabilities in their edge products,” said Hailo CEO Orr Danon.
In the photo, from left to right: Hailo CEO Orr Danon, chief business development officer Hadar Zeitlin, and CTO Avi Baum.