Hailo, a Tel Aviv, Israel-based company that is developing proprietary processing architecture for deep learning on edge devices, has raised $21 million in the form of a Series A funding round expansion.
Glory Ventures, a Chinese venture capital firm, led this round of funding. And Glory was joined by existing and other new investors. With this investment, Hailo will expand its target markets in China and Hong Kong — which complements its existing markets in North America, Europe, Japan, and Korea.
Hailo also announced that it is opening the registration for the Hailo-8 Fast Track program to select customers. And it is offering customers the opportunity to evaluate the initial samples of its high-performance / low-power Hailo-8 deep learning processor. Plus program participants from various sectors will also be able to develop and prototype their own deep learning products based on the Hailo-8 processor.
“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,” said Hailo CEO and co-founder Orr Danon in a statement. “The upcoming samples of our Hailo-8 processor will help players in multiple markets overcome the daunting barriers of sufficiently low power consumption, size and cost which currently prevent them from deploying intense deep learning capabilities in their edge products.”
Hailo’s breakthrough processor technology was designed to fit in embedded devices, which enables them to process high-resolution video and high-throughput streams in real-time using deep learning algorithms while operating at reduced power consumption. And the technology is able to serve deep learning applications in a wide range of markets like automotive, smart home, surveillance, industrial, AR/VR platforms, wearables, and robotics.
“We have been following the AI compute global landscape closely and found Hailo’s technology to stand out,” added Glory Ventures founding partner Eric Yang. “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.”