AI edge chip startup Hailo lands $136M

Learn more about what comes next. Hailo, a startup developing AI accelerator chips for edge devices, today announced that it raised $136 million in a series C funding round led by Poalim Equity and entrepreneur Gil Agmon, with participation from ABB Technology Ventures, Latitude Ventures, OurCrowd, Carasso Motors, Comasco, Shlomo Group, Talcar Corporation, and Automotive Equipment. The capital brings Hailo's total raised to $224 million, and CEO Orr Danon says the company will put the funds toward mass manufacturing of its current chips and the development of next-generation hardware in new and existing markets. AI edge chips are coming into vogue as enterprises begin to realize the benefits of localized computing. Deloitte estimates that in 2020, over 750 million edge AI chips -- chips or parts of chips that perform or accelerate machine learning tasks on-device -- were sold globally.