Fosun Unit Leads Series A Round In Chinese AI Chip Maker Westwell Lab

A unit of Chinese conglomerate Fosun Group has led a series A financing round in Westwell Lab, a Shanghai-based artificial intelligence chip maker start-up specialized in Neuromorphic engineering.

Fosun made the investment via its venture capital unit Fosun Tonghao, in the Chinese entertainment and investment conglomerate's first major foray into the AI sector. No financial details of the round were disclosed.

Founded in 2015, Westwell is unique among Chinese AI start-ups. Instead of providing AI capabilities such as voice recognition, image recognition or other tech solutions to enterprise clients, Westwell is focused on developing an AI chip the size of a stamp simulating the activities of human nerve cells.

The company's products include a Neuromorphic chip named DeepSouth, which can teach, train and enhance itself with high leve...

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