Morphing Machines Raises ₹38 Crore Series A to Advance Semiconductor Chip Development

Morphing Machines, a Bengaluru-based fabless semiconductor IP startup incubated at the Indian Institute of Science (IISc), has raised ₹38.36 crore (approximately $4.32 million) in a Series A funding round led by IAN Alpha Fund, with participation from Speciale Invest, IvyCap Ventures, Navam Capital, and existing investors. The company is developing REDEFINE™, a many-core processor architecture designed to dynamically adapt resources to handle diverse workloads such as artificial intelligence, data analytics, and high-performance computing with both ASIC-level performance and FPGA-like flexibility. The funding will be used to build and test Morphing Machines' first chip, expand its engineering team from 50 to over 90 members, and begin customer demos and pilot projects, targeting deployments in India, the US, and Europe. Founded by Deepak Shapeti, Dr. Ranjani Narayan, and Prof. S.K. Nandy, Morphing Machines aims to offer data centers and cloud hyperscalers improved performance, efficiency, and flexibility while lowering total cost of ownership. The startup plans to complete its first proof-of-silicon within 12 to 24 months and expand its customer base across data centers, AI applications, and enterprise infrastructure, building on over a decade of IISc-led research and government support. Morphing Machines faces competition from both Indian semiconductor startups and global companies but is positioned to address the need for agile, energy-efficient processing solutions in cloud computing environments.