PE-VC Fund Investments
Fabless semiconductor IP startup Morphing Machines raises Rs.38-Cr led by IAN Alpha Fund, others
Bengaluru-based fabless semiconductor IP startup Morphing Machines has raised INR 38.36 crore in a Series A funding round. The round was led by IAN Alpha Fund, with participation from existing investors Speciale Invest, IvyCap Ventures, and Navam Capital, alongside Golden Sparrow Ventures, IIMA Ventures, and DeVC. Founded by Deepak Shapeti (CEO), Dr. Ranjani Narayan (CTO), and Prof. S. K. Nandy (Chief Scientific Advisor), Morphing Machines is developing REDEFINE, a processor designed to be dynamic and flexible for demanding compute environments like data centers and high-performance computing. This technology was incubated at the Indian Institute of Science (IISc). The raised capital will be used to build and test its first chip, strengthen its product, expand the team from 50 to over 90, begin customer demos, and secure early adoption in data centers. Morphing Machines, supported by government initiatives such as DLI and C2S, plans to expand into the US and Europe.
In Jun 2024, Morphing Machines had attracted about USD 3 M from DeVC India, Golden Sparrow Ventures, IvyCap Ventures, Navam Capital, SIDBI VC, Speciale Invest and others.
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