Israel-based AI chipmaker Hailo has raised $120 million in an extension of its Series C funding round. This latest investment follows a previous $136 million raise in 2021, bringing the company’s total funding to over $340 million. The funding round was supported by both current and new investors, including Gil Agmon and Poalim Equity. Hailo’s AI processors are designed for edge computing on smart devices, enabling advanced deep learning tasks without the need for data centers.
“The closing of our new funding round enables us to leverage all the exciting opportunities in our pipeline, while setting the stage for our long-term future growth,” said co-founder and CEO Orr Danon in a release.
Surge in AI Chip Investment
Investor interest in AI and chipmaking startups has surged in recent weeks, spurred by the broader excitement around generative AI. While established companies like Nvidia have seen their market caps soar, newer entrants are also attracting significant attention.
For example, Astera Labs, a developer of data center connectivity technology for generative AI, saw its shares rise dramatically after its recent IPO on the Nasdaq. Similarly, Celestial AI, an optical interconnectivity startup, recently raised $175 million in a Series C round led by Thomas Tull’s US Innovative Technology Fund. Other AI-related chip startups such as Lightmatter and D-Matrix have also completed significant funding rounds.
The Future of AI at the Edge
Hailo’s Hailo-10 GenAI accelerator is a key component of its strategy to bring both classic and generative AI to edge devices. This approach allows smart devices to perform complex AI tasks locally, reducing reliance on centralized data centers and enhancing performance and efficiency.
As AI continues to evolve, edge computing will play an increasingly vital role in various applications, from autonomous vehicles to smart cities. Hailo’s innovative processors position the company to be at the forefront of this technological shift, making AI more accessible and impactful across different sectors.
