Hailo, the pioneering chipmaker of edge artificial intelligence (AI) processors, has announced the successful extension of its series C fundraising round with an additional investment of $120 million, bringing its valuation to more than $1 billion. This successful close is the ‘latest sign of investor enthusiasm for startups that can help address a global chip shortage and fuel the development of generative AI,’ according to Bloomberg.
In addition to the funding round, Hailo has also introduced its innovative Hailo-10 high-performance generative AI (GenAI) accelerators, which usher in an era where users can own and run GenAI applications locally, including on many edge devices, without registering to cloud-based GenAI services. As Hailo CEO and Co-Founder Orr Danon stated, ‘Hailo-10 lets users do it directly on their PCs or other edge systems, without straining the CPU or draining the battery.’
The new Hailo-10 GenAI accelerator enables a wide range of applications that maintain Hailo’s leadership in both performance-to-cost ratio and performance-to-power consumption ratio. By unlocking the power of GenAI on edge devices, such as personal computers, smart vehicles, and commercial robots, Hailo-10 allows users to completely own their GenAI experiences, making them an integral part of their daily routine.
Hailo’s specialized AI processors enable data center-class performance on edge devices, allowing smart devices to perform sophisticated deep learning tasks with minimal power consumption, size, and cost. The Hailo-10 accelerator is capable of up to 40 TOPS (tera operations per second), a new performance standard for edge AI accelerators, and is faster and more energy-efficient than integrated neural processing unit (NPU) solutions.
Since its founding in 2017, Hailo has become a leading global supplier of intelligent AI chips, serving more than 300 customers around the world. The company’s new funding round and the introduction of the Hailo-10 GenAI accelerator position it to bring classic and generative AI to edge devices in ways that will significantly expand the reach and impact of this remarkable new technology.
This news story relied on a press release distributed by News Direct. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is Hailo Raises $120 Million, Unveils Hailo-10 GenAI Accelerator for Edge Devices.