Hailo has announced the completion of a $12.5 million Series A round. The company will use the funding to further develop its deep learning processor, which will deliver datacenter processing capacity to edge devices. This latest funding round brings the total raised to date by the Tel Aviv-based company to $16 million.
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.
Hailo’s deep learning processor, whose initial samples are expected to enter the market in H1 2019, will be able to run embedded AI applications on edge devices that are installed 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 reduces size, power and cost, making it suitable for local processing of high-resolution sensory data in real time.
The automotive industry, which is one of Hailo’s key target markets, is undergoing a major disruption, rapidly adopting deep learning methods to enable ADAS and autonomous driving applications that require continuous sensing of surroundings.