Morphing Machines raises Rs 38.36 Cr in Series A round led by IAN Alpha Fund

Morphing Machines, a Bengaluru-based fabless semiconductor IP company, has raised Rs 38.36 crore ($4.32 million) in a Series A funding round led by IAN Alpha Fund, with participation from Speciale Invest, IvyCap Ventures, and Navam Capital.

Existing investors from the company’s seed round including Speciale Invest, IvyCap Ventures, Navam Capital, Golden Sparrow Ventures, IIMA Ventures, and DeVC also participated in this round.

Earlier in June last year, the firm had raised $2.76 million in its seed round led by Speciale Invest and others. 

The proceeds will be used to build and test the company’s first chip, expand its engineering team from 50 to over 90 members, and launch pilot projects with data center customers. Morphing Machines will also begin commercial deployments in India, the US, and Europe.

Founded by Deepak Shapeti, Dr. Ranjani Narayan, and Prof. S.K. Nandy, Morphing Machines develops next-generation semiconductor architectures that aim to redefine performance, efficiency, and scalability in computing. The company is building REDEFINE, a manycore processor capable of handling diverse workloads such as AI, data analytics, and high-performance computing, with a focus on both speed and energy efficiency.

Over the next 12 to 24 months, the company plans to complete its first proof-of-silicon, enhance its software toolchain, and expand its customer base across data centers, AI applications, and enterprise infrastructure.