Hailo, a developer and manufacturer of edge artificial intelligence (AI) processors, has extended its series C fundraising round with an additional investment of $120 million.
Hailo has successfully concluded a $120 million series C financing round to support the growing importance of its AI vision processors for smart cameras.
Hailo, which has more than 300 customers globally including Schneider Electric, Dell Technologies and ABB, offers products such as AI accelerators and AI software suite.
Israel-based chipmaker Hailo has raised $120 million in a new funding round, valuing it at $1.2 billion, and released a high-performance generative AI chip, the company said on Tuesday. The latest round takes the total investment to more than $340 million since Hailo's inception in 2017. Investors are increasingly backing AI startups since the launch of OpenAI's ChatGPT, betting on potential benefits from the growing adoption of the technology that could challenge industry leaders and expedite innovation.
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