Investment Update : West Fountain Parallel Fund Invested in Wave Computing
In March 2017, West fountain Global Fund LP ("West fountain") and Shenzhen Capital Group Company ("SCGC") jointly completed the investment in Wave Computing, Inc. ("Wave Computing").
Founded in 2010, Wave Computing is one of many promising new companies in AI field. Its mission is to "innovate deep learning from edge to data center through scalable real-time AI solutions". Wave computing has more than 200 data scientists, machine learning, systems, software and chip design experts, 25% of whom have Ph.D. degree. Wave Computing's dataflow technology has been successfully validated in TSMC 28 nm and 16 nm processes.
Known as the "father of semiconductors," Mr. Dado Banatao, the founder of the company, is one of the first people to start a semiconductor business in Silicon Valley. He has founded two NASDAQ listed companies.
Wave Computing has been researching parallel computing chips since 2008. When deep learning and artificial intelligence exploded in 2016, the industry became aware of the limitations of existing hardware. Wave Computing has studied parallel computing support hardware for many years, and has 77 patents, forming a strong competitive barrier.
With completion of this round of financing, Wave Computing will accelerate research and development of its AI chip.