Photo credit: DiasporaEngager (www.DiasporaEngager.com).

JNS.org – Israeli artificial-intelligence chipmaker Hailo announced on Tuesday that it raised $136 million in private funding led by Poalim Equity and Gil Agmon.

A source said the financing was done based on a valuation of $1 billion, reported Reuters.

The company said its investors already include Israeli businessman and Hailo chairman Zohar Zisapel, Swiss-based ABB Technology Ventures, London’s Latitude Ventures, and Israel’s OurCrowd, in addition to others.

According to the report, former senior vice president at Intel Corp, Mooly Eden, will join its board of directors.

Hailo said the money would be used to develop new products and expand its markets.

Source of original article: Israel – Algemeiner.com (www.algemeiner.com).
The content of this article does not necessarily reflect the views or opinion of Global Diaspora News (www.GlobalDiasporaNews.com).

To submit your press release: (https://www.GlobalDiasporaNews.com/pr).

To advertise on Global Diaspora News: (www.GlobalDiasporaNews.com/ads).

Sign up to Global Diaspora News newsletter (https://www.GlobalDiasporaNews.com/newsletter/) to start receiving updates and opportunities directly in your email inbox for free.