Hailo, a startup company developing a microprocessor based on proprietary technology fordeep learningonedge devices,has received $12.5 million in Series A funding.
The company’s investors includeOurcrowd.com, Maniv Mobility, the Drive accelerator fund: Next Gear; as well as angel investors, Hailo Chairman Zohar Zisapel and Delek Motors CEO Gil Agmon. The Tel Aviv, Israel-based company will use the funding to further develop its deep learning processor, which the company says will "deliver data center processing capacity to edge devices."
Existing technologies, suggests Hailo, are too large, expensive, and power-hungry to be deployed in edge devices, and must depend on a remote data center for ample processing power. The processor being developed by Hailo is designed to fit into embedded devices, enabling them to process high-resolution video in real-time using deep learning algorithms, while operating at reduced power consumption, size, and cost.
"The 70-year old architecture of existing processors is inadequate to meet today’s deep learning and AI processing needs," says Orr Danon, Hailo CEO. "Hailo is revolutionizing the underlying architecture of the processor to boost deep learning processing by several orders of magnitude. We have completely redesigned the pillars of computer architecture – memory, control and compute – and the relations between them."
The device—samples of which are expected in the first half of 2019—targets embedded artificial intelligence applications on edge devices that are installed in autonomous vehicles, drones, and smart home appliances such as personal assistants, smart cameras and smart TVs, alongside Internet of Things, augmented reality and virtual reality platforms, wearables, and security products, according to the company.
Hailo—which was founded in 2017 by former members of the elite technology unit of the Israeli Defense Forces—is currently collaborating with a number of companies in order to test and evaluate the new technology.
Eli Nir, Senior Investment Partner at OurCrowd, commented: "We are convinced that the extensive need in the market, Hailo's breakthrough technology and unique team will allow Hailo to bring the deep learning revolution to edge devices."
Pictured: Hailo’s founders (left to right): Orr Danon, CEO, Hadar Zeitlin, Chief Business Development Officer, and Avi Baum, CTO.
View more information on Hailo.
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