Executive Moves

Hailo Appoints Rakefet Russak Aminoach as Chairwoman of the Board

Rakefet Russak Aminoach

Hailo.ai, a leading AI chipmaker, has announced the appointment of Rakefet Russak Aminoach as the new Chairwoman of the Board. Aminoach served on the board for 4 years and has now been appointed Chairwoman after the recent passing of the previous Chairman, Zohar Zisapel.

Far from ushering in major changes for the AI chipmaker, this move is expected to further solidify its strategic direction as a leader in the industry.

About Hailo.AI

Founded in 2017, Hailo.ai has quickly emerged as a pioneer in developing AI processors for edge devices. The company was established in Tel Aviv, Israel, by Orr Danon, Avi Baum, and Hadar Zeitlin with a mission to revolutionize AI computation at the edge. 

Hailo's flagship product, the Hailo-8™ AI processor, offers unparalleled performance and efficiency, making it ideal for applications in automotive, smart cities, industrial automation, and beyond. With its innovative technology, Hailo aims to enable smarter, more efficient devices that can process data locally, reducing the reliance on cloud computing and enhancing real-time decision-making.

What Aminoach's Appointment Means for Hailo.ai

Rakefet Russak Aminoach's appointment as Chairwoman of the Board is a strategic move by Hailo to leverage her extensive experience and leadership in the financial and tech sectors. 

Aminoach is the former CEO of Bank Leumi, where she led the bank's digital transformation, establishing it as a leader in digital banking. Before her tenure at Leumi, she also served as the CEO of KPMG Israel

Her expertise in scaling businesses and navigating complex regulatory landscapes is regarded as invaluable as Hailo continues to expand its market presence.

According to Orr Danon, CEO and co-founder of Hailo, Rakefet Russak Aminoach is deeply familiar with Hailo's challenges, and in her role as a director, she contributed significantly to formulating the company's business strategy and penetrating into international markets. 

While he expressed “great sadness” at the departure of Zisapel, he continued, “We welcome Rakefet Russak Aminoach as the new Chairwoman of the company, and we are confident that her knowledge, experience, and unique abilities will help us realize Hailo's international vision."

Hailo's Strategic Milestones and Future Prospects

Hailo has achieved several significant milestones in recent years, distinguishing itself as a leader in the AI chip industry. In October 2021, Hailo raised $136 million in a Series C funding round, bringing its total funding to over $200 million. This funding round was pivotal in advancing the company's R&D capabilities and scaling its production to meet growing demand.

In April 2024, Hailo announced an additional $120 million in funding as an extension of its Series C funding round. This meant that its total funding surpassed $340 million. This news was partnered with the introduction of the Hailo-10 high-performance generative AI (GenAI) accelerator. 

With this newest generation of tech, the company promises to usher in “an era where users can own and run GenAI applications locally without registering to cloud-based GenAI services.”

Hailo's innovative solutions have also garnered industry recognition. Among its many accolades, the company won the "Edge AI and Vision Product of the Year" award in 2021 with its Halo-8 processor. Most recently, it was awarded the Frost & Sullivan 2024 Technology Innovation Leadership Award for its groundbreaking Hailo-15 family of AI vision processors.

Conclusion

The appointment of Rakefet Russak Aminoach as Chairwoman of the Board marks a new chapter for Hailo.ai. It’s hoped that, under her leadership, the company will remain well-positioned to navigate the challenges and opportunities in the rapidly evolving AI chip market. 

As Hailo continues to innovate and expand its product offerings, the future looks promising for this AI chip unicorn. How will Aminoach's leadership influence Hailo's trajectory, and what new advancements can we expect from Hailo in the coming years?

Photo/image source: Hubert Burda Media

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