Hailo announced the Series A in June 2018 at $12.5 million (see Israel startup funded to develop deep learning processor ) and now Glory Ventures, joined by existing and other new investors, has taken the amount up to $21 million.
The expanded investment will enable the company to target the China and Hong Kong markets, in addition to Europe, North America, Japan and Korea, Hailo said in a statement. Glory Ventures includes Innoviz Technologies, Vayyar Imaging and Corephotonics in its portfolio.
Hailo's strategic focus is on the automotive market but the company claims its Hailo-8 processor can serve deep learning applications in other markets including surveillance, smart home, IoT and industrial, as well as robotics, AR/VR platforms and wearables. The processor is designed to fit into embedded devices enabling them to process high-resolution video and other high-throughput streams in real-time.
"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," said Orr Danon, Hailo CEO and co-founder, in a statement.
Hailo has opened up a registration process for selected customers to be listed to receive samples of the Hailo-8 processor.
Hailo was founded in 2017 by former members of the technology unit of the Israeli Defense Forces.
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