Morphing Machines, a Bengaluru-based fabless semiconductor IP company, has raised ₹38.36 crore in a Series A funding round led by IAN Alpha Fund.
The round also saw participation from existing investors from the seed round, including Speciale Invest, IvyCap Ventures, Navam Capital, Golden Sparrow Ventures, IIMA Ventures, and DeVC.
The fresh funds raised will be used to build and test its first chip, strengthen its product, and expand the team from 50 to more than 90 people. The company also plans to start demos with customers and secure early adoption in data centers. Over time, Morphing Machines will expand into global markets such as the US and Europe.
In the next 12 to 24 months, the company will focus on building its first proof-of-silicon chip, signing paid pilot projects with data center customers, and improving its software toolchain.
Founded in 2005 by Deepak Shapeti (CEO), Dr Ranjani Narayan (CTO), and Prof. S. K. Nandy (Chief Scientific Advisor), Morphing Machines is a closely held fabless semiconductor company based in Bangalore.
The company is building a many-core processor that can handle diverse workloads with speed and efficiency, addressing the needs of industries such as data centers and artificial intelligence. The company is building semiconductor solutions that are not only powerful but also energy-efficient and scalable, making them relevant for high-performance computing, AI, and next-generation enterprise applications.
Deepak Shapeti, Co-founder & CEO, 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. Our Series A funding will accelerate deployment of REDEFINE into consumer cloud data centers, hyperscalers, and other such use cases where we can offer customers better performance, efficiency, and flexibility while dramatically lowering total cost of ownership.”
Rajnish Kapur, Managing Partner, IAN Alpha Fund, said, “We are delighted to partner with Morphing Machines, a deep-tech semiconductor startup built on nearly two decades of pioneering research at the Indian Institute of Science. Morphing Machines is developing REDEFINE™, a runtime reconfigurable manycore parallel compute processor that combines the flexibility of an FPGA with the performance of an ASIC. Like a Swiss knife, REDEFINE™ can dynamically switch between CPU and GPU capacity cores, making it ideal for the diverse, demanding and yet unpredictable workloads of modern applications that are increasingly AI-driven. The timing couldn’t be better: with the rising demands of high-performance computing, data centers, Generative AI, 6G, ADAS, etc., the need for scalable AI acceleration is more urgent than ever. We are thrilled to work alongside Dr. Ranjani Narayan, Prof. S.K. Nandy, and Deepak Shapeti as they push the frontiers of India’s semiconductor mission.”
Vishesh Rajaram, Managing Partner, Speciale Invest, said, “At Speciale Invest, we are committed to backing founders who are building at the very edge of science and engineering. Morphing Machines exemplifies this — bringing together more than a decade of IISc-led research and transforming it into a commercially scalable semiconductor innovation. REDEFINE™ is a breakthrough architecture that addresses the growing demand for compute agility in data centers and AI workloads globally. We are excited to partner with Deepak, Dr. Ranjani, and Prof. Nandy as they push forward India’s semiconductor mission and build a globally competitive deeptech company.”
