Edge AI Pioneer Hailo Raises $120 Million in Series C Extension, Eyes $100 Million ARR Milestone

Hailo, the innovative chipmaker specializing in edge artificial intelligence (AI) processors, has announced an extension of its series C fundraising round, securing an additional investment of $120 million. Alongside this, the company has unveiled its groundbreaking Hailo-10 high-performance generative AI (GenAI) accelerators, marking a significant shift towards locally owned and operated GenAI applications without reliance on cloud-based services.

Hailo, a pioneering chipmaker with a focus on edge AI, is at the forefront of developing specialized AI processors. These processors are engineered to deliver data center-level performance directly on edge devices. Hailo's innovative approach involves reimagining traditional computer architecture, resulting in smart devices capable of executing complex deep learning tasks like object detection and segmentation in real-time, all while consuming minimal power, maintaining a compact size, and remaining cost-effective.

Designed to seamlessly integrate into a wide array of smart machines and devices, Hailo's processors have far-reaching implications across various sectors. From enhancing personal computing experiences to revolutionizing automotive systems, security solutions, industrial automation (Industry 4.0), and optimizing retail operations, the impact of Hailo's technology spans diverse industries.

The latest funding round was spearheaded by both existing and new investors, including prominent names like the Zisapel family, Gil Agmon, Delek Motors, Alfred Akirov, DCLBA, Vasuki, OurCrowd, Talcar, Comasco, Automotive Equipment (AEV), and Poalim Equity. With this latest injection, Hailo's total funding exceeds $340 million.

CEO and Co-Founder of Hailo, Orr Danon, expressed excitement about the company's future prospects, stating: "The conclusion of our latest funding round positions us perfectly to capitalize on the multitude of opportunities ahead, while laying a strong foundation for sustained growth. In tandem with the introduction of our Hailo-10 GenAI accelerator, we are strategically positioned to democratize access to classic and generative AI on edge devices, liberating users from the constraints of cloud networks."

Danon emphasized the seamless integration of GenAI capabilities into users' daily routines with Hailo-10, offering unparalleled flexibility and immediacy. "This empowers individuals to leverage chatbots, copilots, and other emerging content generation tools, thereby enhancing productivity and enriching lives" he added.

Since its establishment in Israel in 2017, Hailo has rapidly ascended to become a premier global provider of intelligent AI chips, catering to over 300 clients worldwide. With a strategic presence across key regions including the United States, Europe, Japan, South Korea, China, and Taiwan, the company has solidified its position as a leader in the industry.

With a clientele spanning 300 customers, Hailo is poised for substantial growth, anticipating to achieve an Annual Recurring Revenue (ARR) of $100 million in the near future. This projection underscores the company's strong market position and the growing demand for its cutting-edge edge AI processors across various industries.