Hailo said on June 8 it would cut about half its workforce, with about 110 employees leaving.

The Israeli AI chip startup said the move is part of a restructures to focus on physical AI markets such as robotics and drones.

The company said it has sold more than 500,000 AI accelerator chip.

The company now distributes them through a network of partners and resellers, reducing the need for large in-house customer support and deployment teams.

The restructuring follows the collapse of a planned SPAC merger.

Hailo also received a $9 million loan in January 2026 from shareholder Delek Automotive, which owns a 12.1% stake in Hailo. Delek’s filings had flagged Hailo’s urgent liquidity needs.

Hailo said in February 2024 that it had raised a total of $340 million and maintained a valuation of $1.1 billion. Delek’s filings later showed the abandoned listing would have valued Hailo at under $500 million.

🔗 Source: Calcalist