NEW DELHI: Bengaluru-based Morphing Machines, a fabless semiconductor IP startup incubated at the Indian Institute of Science (IISc), has secured ₹38.36 crore in Series A funding.
The round was led by IAN Alpha Fund, with participation from Speciale Invest, IvyCap Ventures, and Navam Capital.
Existing investors from the Seed round—Speciale Invest, IvyCap Ventures, Navam Capital, Golden Sparrow Ventures, IIMA Ventures, and DeVC—also participated.
Morphing Machines is part of India’s growing deep-tech ecosystem, developing advanced technologies that push the boundaries of computing.
The company is building REDEFINE™, a many-core processor capable of handling diverse workloads efficiently, targeting industries such as data centers, AI, high-performance computing, and enterprise applications.
After more than a decade of research, Morphing Machines combines deep technical expertise with practical product focus, offering solutions that are both energy-efficient and scalable. Unlike traditional processors, REDEFINE™ delivers ASIC-level performance with FPGA-like flexibility, making it suitable for modern, AI-driven, and unpredictable workloads.
Deepak Shapeti, Co-Founder & CEO, Morphing Machines, said:
“Data Centers today demand agility—REDEFINE™ 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 into consumer cloud data centers, hyperscalers, and other applications, providing customers better performance and flexibility while lowering total cost of ownership.”
Rajnish Kapur, Managing Partner, IAN Alpha Fund, added:
“Morphing Machines is developing a runtime reconfigurable manycore processor that combines the flexibility of an FPGA with the performance of an ASIC. With rising demands in high-performance computing, Generative AI, 6G, and ADAS, the timing couldn’t be better. We are thrilled to support the team in advancing India’s semiconductor mission.”
Vishesh Rajaram, Managing Partner, Speciale Invest, said:
“Morphing Machines exemplifies deep-tech innovation, translating over a decade of IISc-led research into a commercially scalable semiconductor solution. REDEFINE™ addresses the global demand for compute agility in data centers and AI workloads, making it a breakthrough architecture for India’s semiconductor ecosystem.”
The new funding will be used to build and test the first chip, strengthen product capabilities, and expand the team from 50 to 90+ employees. The company also plans to begin customer demos and early adoption in data centers, with future expansion into international markets such as the US and Europe.
Over the next 12–24 months, Morphing Machines aims to produce its first proof-of-silicon chip, secure pilot projects with data center customers, and enhance its software toolchain, positioning itself as a global leader in semiconductor accelerators.
About Morphing Machines:
Morphing Machines is a Bengaluru-based fabless semiconductor IP company incubated at IISc, developing REDEFINE™, a dynamic and flexible processor for data centers and high-performance compute environments. Backed by a decade of research, patents, and government initiatives like DLI (Design-Linked Incentive) and C2S (Chips2Startup), the company aims to deliver ASIC-level performance with FPGA-like adaptability.
About IAN Alpha Fund & IAN Group:
IAN Alpha Fund is a ₹1,000 crore SEBI-registered Category II AIF VC Fund investing in sectors including deep-tech, healthtech, cleantech, hardware, electronics, AI, and Web 3.0.
IAN Group, India’s largest seed and early-stage investment platform, supports entrepreneurs with funding, mentoring, and global market access, having backed startups across 19 sectors in India and 7 countries.
