AI chip startup Hailo, recently announced that they have raised $60 million in a B-round of funding. This new round brings the company’s total financing to $88 million. This funding will be used to extend productization and commercialization of the Hailo-8 flagship chip, as well as to continue development of the company’s hardware and software solutions. Additionally, the company wants to expand their global presence as the company continues to grow. They see significant opportunity in new markets such as video analytics for safety, retail and access control applications that require increased AI firepower near the camera or in hubs where feeds from multiple cameras are combined. The following article does a nice job in providing more details of the company’s plans.

Based out of Tel-Aviv, Israel, Hailo just raised $60 million in a B-round of funding. This brings the company’s total financing to $88 million, which it will use to fund things like the productization and commercialization of the company’s chip, the Hailo-8. The money will also be used for continued development of its hardware and software.

Beyond the confidence booster that it has gotten with its successful funding campaigns, Hailo has received much praise for its Hailo-8 processor, which was developed for edge and endpoint devices back in May 2019. The technology uses a proprietary architecture in which compute, memory, and control blocks are all mixed together. Software allocates adjacent blocks to work on each layer of a neural network, which is dependent upon the compute and memory requirements of that layer. The procesor offers 26 TOPS at 2.8 TOPS/W for AI inference acceleration in edge and endpoint devices.

“We are very impressed with Hailo’s product and team and believe their novel deep learning processor will help advance different Industry 4.0 applications,” said Kurt Kaltenegger, head of ABB Technology Ventures. “We look forward to combining Hailo’s solution with our cutting-edge industrial technology as an important piece of the puzzle to drive the digital transformation of industries.”

Read the full story on IoT Times 

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