Israeli AI chipmaker Hailo raises $60 mln, total funding $88 mln

Israeli startup Hailo, which develops artificial intelligence chips, said on Thursday it raised $60 million in a funding round, bringing its total financing to date to $88 million.

The round, led by existing investors, was joined by strategic investors including ABB Technology Ventures – the strategic venture capital arm of engineering group ABB; NEC Corp; and London-based VC Latitude Ventures.

Hailo said it will use the funding to bolster the ongoing global rollout of its deep learning chip and to reach new markets and industries.