Thursday, 24 January 2019 11:41

Hailo expansion attracts Chinese investment

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Hailo expansion attracts Chinese investment Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Chinese venture capital firm Glory Ventures has led the expansion of a new investment round by Israeli start-up Hailo, developers of a proprietary processing architecture for deep learning on edge devices.

Hailo announced on Thursday it has expanded its Series A funding round to US$21 million.

Glory Ventures led the investment-round expansion and was joined by existing and other new investors.

Hailo says the investment will enable the company to expand its target markets into China and Hong Kong, complementing its existing markets in Europe, North America, Japan and South Korea.

Hailo is also opening registration for the Hailo-8 Fast Track program to select customers and is offering these customers the opportunity to evaluate the initial samples of its high-performance, low-power and small-size Hailo-8 deep-learning processor.

Program participants from various sectors will also be able to develop and prototype their own deep learning products based on the Hailo-8 processor.

"The expansion of our Series A round and the addition of Glory Ventures to our investor roll boosts our ability to bring out innovative, powerful and resilient deep learning processors for edge devices, and helps us target the strategic markets of China and Hong Kong," said Hailo chief executive and co-founder Orr Danon.

“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.”

"We have been following the AI compute global landscape closely and found Hailo's technology to stand out" said Eric Yang, founding partner at Glory Ventures.

"We are impressed with the Hailo team and their ability to execute. We look forward to continuing our relationship with them as AI becomes a 'must-have' technology in every camera-enabled device.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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