Hailo Raises $120 Million to Design More Efficient AI Chips
Apr 02, 2024 - bloomberg.com
Israel-based artificial intelligence chipmaker, Hailo Technologies Ltd, has secured $120 million in funding, indicating growing investor interest in startups that can help address the global chip shortage and advance generative AI. The funding round included participation from several Israeli firms and family offices such as Delek Motors Ltd., OurCrowd Ltd., and Poalim Equity Ltd.
This investment is part of an extended Series C round, bringing Hailo's total funding to date to $340 million and valuing the company at $1.2 billion.
Key takeaways:
Hailo Technologies Ltd, an Israel-based AI chipmaker, has raised $120 million in funding.
The funding is seen as a response to the global chip shortage and the need for development of generative AI.
A number of Israeli firms and family offices, including Delek Motors Ltd., OurCrowd Ltd. and Poalim Equity Ltd, participated in the funding round.
The investment, part of an extended Series C round, brings Hailo's total funding to $340 million and values the company at $1.2 billion.
