BENGALURU – Morphing Machines, a Bengaluru-based fabless semiconductor IP company incubated at the Indian Institute of Science (IISc), has raised ₹38.36 crore in a Series A funding round led by IAN Alpha Fund, the company said on Monday.
Other investors in the round include Speciale Invest, IvyCap Ventures and Navam Capital, with participation from earlier backers including Golden Sparrow Ventures, IIMA Ventures and DeVC.
The company said it will use the funding to build and test its first chip, strengthen its product roadmap and expand its workforce from 50 to over 90 persons.
Morphing Machines to focus on processor
Morphing Machines is developing ‘REDEFINE’, a many-core processor architecture intended to handle diverse workloads across artificial intelligence, data centres and enterprise compute.
The company described REDEFINE as a runtime reconfigurable processor that can dynamically adapt resources by combining elements of CPU and GPU cores.
Deepak Shapeti, Co-founder & CEO of Morphing Machines, said, “Data Centers today demand agility—REDEFINE uniquely adapts to any workload, from AI to analytics, delivering breakthrough efficiency and lower costs for the next era of cloud computing.”
The company views the capital as essential to accelerate REDEFINE’s deployment in cloud data centres and hyperscalers.
Morphing Machines was founded by Deepak Shapeti, Dr. Ranjani Narayan and Prof. S. K. Nandy. The technology was developed from long-standing research work at IISc and early projects for DRDO and Safran Aerospace, the company said.
In June 2024, the company secured $2.76 million (around ₹23 crore) in a seed funding round led by Speciale Invest, with participation from IvyCap Ventures, Golden Sparrow, Navam Capital, CIIE Initiatives and DeVC. The proceeds were used to accelerate product development, prototyping and team building.
Proof-of-silicon implementation
Morphing Machines faces the task of demonstrating its technology at scale and securing pilot engagements with data centre customers, the company said. It plans to use the fresh funding to begin demos, refine its software toolchain and achieve proof-of-silicon implementation in 12 to 24 months.
The development comes amid rising investor interest in India’s semiconductor design ecosystem, supported by government programmes such as the Design Linked Incentive (DLI) and Chips2Startup (C2S). The government has said startups under these schemes are drawing increased private investment.
