INFOGRAPHIC: Startup Funding in Africa and the Middle East — Week 15

David Adubiina -
  • Hailo secures a $120 million fund to accelerate its growth.
  • Novidea raises an additional $30M for expansion
  • SunCulture receives $12 million to expand solar irrigation across Africa 
  • Tel Aviv Datafy Closes $6M Funding for Expansion
  • WeCare secures $350,000 to innovate Lab-Grown Diamonds

Hailo secures a $120 million fund to accelerate its growth.

  • Hailo, a chipmaker based in Israel, has recently raised $120 million in a new funding round. This funding round is an extension of its Series C round and has valued the company at $1.2 billion. 
  • Hailo offers specialized AI processors that enable high-performance deep learning applications on edge devices. With the new funding, the company aims to accelerate its growth and execute its roadmap faster. 
  • The fundraising was led by both new and existing investors, including the Zisapel family, Comasco (a construction tool provider), and OurCrowd (an online venture investing platform), among others. This brings the total investment in Hailo to over $340 million since the company's inception in 2017.