ABB Technology Ventures and NEC took part in a $60m series B round that will support the AI processor developer’s global expansion efforts.
Hailo, the Israel-based developer of an artificial intelligence processor, collected $60m yesterday in a series B round featuring industrial automation technology producer ABB and IT product manufacturer NEC Corporation.
The round was led by unnamed existing investors and included venture capital firm Latitude Ventures. ABB took part through its corporate venture capital subsidiary, ABB Technology Ventures.
Founded in 2017, Hailo has created a chip that can run deep learning applications on smart devices such as phones, drones and cameras, removing…
