Team StartupCity

• Semiconductor startup Morphing Machines secures Rs 38.4 Crore in Series A funding
• Funds to support chip development, product enhancement, and team expansion
• Startup targets global markets and early adoption in data centres

Bengaluru based semiconductor startup Morphing Machines has raised Rs 38.4 crore in Series A funding round led by IAN Alpha Fund. Existing investors including Speciale Invest, IvyCap Ventures, Navam Capital, Golden Sparrow Ventures, IIMA Ventures, and DeVC also participated.

The fresh funds will be used to build and test the company’s first chip, boost its software toolchain, and grow the team from 50 to over 90 members. The startup also plans to enter international markets, including the US and Europe, in the coming years.

Founded in 2006 by Deepak Shapeti, Ranjani Narayan, and SK Nandy, Morphing Machines is a fabless semiconductor IP company incubated at the Indian Institute of Science (IISc), Bengaluru. It has developed REDEFINE, a runtime reconfigurable many core processor designed for high performance applications like AI/ML workloads, telecom infrastructure, and data centres.

Supported by government schemes like the Design Linked Incentive (DLI) and Chips2Startup (C2S), the startup will focus over the next 12-24 months on building its proof-of-silicon chip, signing paid pilot projects, and initiating customer demos to encourage early adoption.

Also Read: Zoho Backs Netrasemi with $12.5 Million to Power India's Chip Dreams

Previously, Morphing Machines raised $2.7 million in a seed round. Its growth aligns with the Centre’s Semicon India programme, which aims to make India a global semiconductor hub. The country’s semiconductor market is expected to cross $150 billion by 2030, driven by increasing demand in AI and digital infrastructure.