IAN Alpha Leads Series A for Morphing Machines

Morphing Machines, a Bengaluru-based fabless semiconductor IP company incubated at the Indian Institute of Science (IISc), has successfully raised ₹38.36 crore in its Series A funding round. The round was led by IAN Alpha Fund, with participation from Speciale Invest, IvyCap Ventures, and Navam Capital. Existing investors from the seed round, including Golden Sparrow Ventures, IIMA Ventures, and DeVC, also took part.

The company is pioneering next-generation semiconductor technology with its manycore processor, REDEFINE™, designed for high-performance, energy-efficient, and scalable computing. The innovative processor is capable of handling diverse workloads such as AI, data centers, and analytics by offering the flexibility of an FPGA with the performance of an ASIC.

Morphing Machines was founded by Deepak Shapeti (CEO), Dr. Ranjani Narayan (CTO), and Prof. S.K. Nandy (Chief Scientific Advisor), drawing on decades of research supported by IISc and projects for DRDO and Safran Aerospace. Their breakthrough software-defined hardware adapts dynamically to evolving workload demands.

The new funding will be deployed to build and test the company’s first chip, enhance the software toolchain, expand the engineering team from 50 to over 90, and launch pilot projects with data center customers. Morphing Machines aims to commercialize its technology in India, the US, and Europe over the next 12 to 24 months, seeking early adoption in AI and enterprise infrastructure markets.

IAN Alpha Fund and Speciale Invest praised the company’s revolutionary approach and deep technical expertise, viewing it as a key contributor to India’s semiconductor ambitions and a potential global leader in AI accelerators and semiconductor architecture. This funding round marks a critical step in transforming decades of research into impactful commercial products, bolstering India’s position in the global semiconductor ecosystem