Hailo, a company developing a proprietary chip for deep learning on edge devices, completed a $12.5 million Series A round. The company’s investors include Ourcrowd.com, Maniv Mobility, the Drive accelerator fund Next Gear, as well as angel investors Hailo Chairman Zohar Zisapel and Delek Motors CEO Gil Agmon.
According to the company, its breakthrough deep learning processor (whose initial samples are expected to enter the market in 2019) is designed to run embedded AI applications on edge devices in autonomous vehicles, drones, and smart home appliances such as personal assistants, smart cameras, and smart TVs, alongside IoT, AR and VR platforms, wearables, and security products. The Hailo processor strives to radically reduce size, power, and cost, making it suitable for local processing of high-resolution sensory data in real time.
This latest funding round brings the total raised by the Tel Aviv-based company to $16 million.