Hailo increases funding to $21M & Launches Hailo-8 Fast Track Program
Hailo, the Israeli start-up developers of a proprietary processing architecture for deep learning, announced on Tuesday that it has expanded its Series A funding round to $21 million.
Chinese venture capital firm, Glory Ventures, led the investment-round expansion and was joined by existing and other new investors.
The investment will enable the company to expand its target markets into China and Hong Kong, complementing its existing markets in Europe, North America, Japan and Korea.
Beyond the value it delivers to its strategic focus, the automotive market, Hailo's processor technology serves deep learning applications in a wide range of other markets including surveillance, smart home, IoT and industrial, as well as robotics, AR/VR platforms and wearable’s.
"The expansion of our Series A round and the addition of Glory Ventures to our investor roll boosts our ability to bring out innovative, powerful and resilient deep learning processors for edge devices, and helps us target the strategic markets of China and Hong Kong", says Orr Danon, Co-Founder & CEO, Hailo.
"We have been following the AI compute global landscape closely and found Hailo's technology to stand out", says Eric Yang, Founding Partner, Glory Ventures. "We are impressed with the Hailo team and their ability to execute. We look forward to continuing our relationship with them as AI becomes a 'must-have' technology in every camera-enabled device”, he adds.
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