Bengaluru-based, IISc incubated fabless semiconductor product company Morphing Machines has raised ₹38.36 crore ($4.32 million) in a Series A funding round led by IAN Alpha Fund, with participation from Speciale Invest, IvyCap Ventures, Navam Capital, Golden Sparrow Ventures, IIMA Ventures, and DeVC. This follows a $2.76 million seed round in June 2023, led by Speciale Invest, with support from the same investors.
Founded in 2006 by Deepak Shapeti, Dr. Ranjani Narayan, and Prof. S.K. Nandy, Morphing Machines is incubated at the Indian Institute of Science (IISc), Bengaluru. The company has developed ‘REDEFINE,’ a runtime reconfigurable many-core processor designed for high performance and energy efficiency in data centers, AI/ML workloads, telecom infrastructure, and enterprise computing applications.
The fresh capital will fund the development and testing of Morphing Machines’ first chip, expand its engineering team from 50 to over 90 members, and support pilot projects with data center customers. Over the next 12 to 24 months, the company aims to complete its proof-of-silicon, enhance its software toolchain, and initiate commercial deployments in India, the US, and Europe.
Supported by government initiatives like the Design-Linked Incentive (DLI) and Chips2Startup (C2S) programs, Morphing Machines is among India’s emerging semiconductor companies contributing to the country’s ambition to become a global semiconductor hub.
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