Hailo, Israeli AI chipmaker has announced that it has raised $60 million (€53.6 million approx.) in Series B funding. The round, led by existing investors, was joined by key strategic investors including ABB Technology Ventures (ATV) – the strategic VC arm of ABB, a global leader in industrial automation and robotics; NEC Corporation – a leader in the integration of IT and network technologies; and London-based VC firm Latitude Ventures.
The funding will be used by Hailo to bolster the ongoing global rollout of its breakthrough Hailo-8 Deep Learning chip and to reach new markets and industries worldwide.