Hailo, an Israeli chipmaker, raised $120 million in a new round of funding, valuing the company at $1.2 billion, and produced a high-performance generative AI chip.
Hailo, an Israeli chipmaker, raised $120 million in a fresh investment round, valuing the firm at $1.2 billion, and released a high-performance generative AI chip, the company announced on Tuesday.
Existing and new investors spearheaded the funding, which included the Zisapel family, construction tool company Comasco, and online venture investing platform OurCrowd, among others. The current round brings Hailo’s total funding to more than $340 million since its launch in 2017.
“We hope to leverage the fresh capital to accelerate our expansion and execute on our vision more quickly. Based on this and with the correct market conditions, our goal is to become a publicly traded firm,” Hailo CEO and Co-Founder Orr Danon said without offering a date.
Investors have been actively financing AI businesses since the debut of OpenAI’s ChatGPT, betting on the potential benefits of increased usage of the technology, which might challenge industry leaders and accelerate innovation.
Hailo, which has over 300 global customers such as Schneider Electric, Dell Technologies, and ABB, provides AI accelerators and an AI software package.
The chipmaker said it has unveiled the Hailo-10 high-performance generative AI accelerator, which allows users to run GenAI apps locally without registering for cloud-based GenAI services, and will begin distributing samples in the second quarter of the year.
“Whether users employ GenAI to automate real-time translation, generate software code, or generate images and videos from text prompts, Hailo-10 lets them do it directly on their PCs or other edge systems without straining the CPU,” Danon stated.
The Hailo-10’s initial applications will focus on personal computers and automobile infotainment systems, increasing the processing capabilities of central processor units (CPUs), according to Hailo.
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