General News Start Ups

A Deep-Learning Israeli Start-up Halo raises $21 million

Earlier on Tuesday, 22nd January, Israeli startup Hailo, which developed a microprocessor for deep learning, made an announcement stating that it has officially expanded its early-stage funding round to $21 million.

As per reports, the investment-round expansion was led by Chinese venture capital firm Glory Ventures and was joined by existing and other new investors.

Sources close to the matter say that along with complementing its existing markets in North America, Japan, South Korea and Europe, the investment shall also empower the company to expand its target markets into the world’s leading markets of China and Hong Kong.

Hailo’s processor technology reportedly is quite flexible as it is suitable for various markets like smart home, surveillance, industrial, robotics, internet of things, wearable devices and augmented reality other than its strategic focus, the automotive market.