Hailo Secures $60 Million to Launch AI Edge Chip

Hailo, AI, edge chip, chipmaker, NEC Corporation, Latitude Ventures, mobility, smart cities, industrial automation
Hailo Secures $60 Million to Launch AI Edge Chip

Hailo, AI chipmaker has secured $60 million in series B funding led by previous and new strategic investors. In addition to existing investors, NEC Corporation, Latitude Ventures, and the venture arm of industrial automation and robotics company ABB (ABB Technology Ventures) also participated in the funding.

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The raised capital will be used to accelerate the rollout of Hailo’s Hailo-8 chip that enables devices to run algorithms that previously would have required a datacenter’s worth of compute. It will also be used in areas such as mobility, smart cities, industrial automation, and retail among others.

Source: https://venturebeat.com/2020/03/05/hailo-raises-60-million-to-accelerate-the-launch-of-its-ai-edge-chip/

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