Morphing Machines, a Bengaluru-based fabless semiconductor IP company incubated at the Indian Institute of Science (IISc), has secured ₹38.36 crore 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 seed stage, including Golden Sparrow Ventures, IIMA Ventures, and DeVC, also participated.
The funding aims to support the company’s development of REDEFINE, a many-core processor designed to handle diverse computational workloads with energy efficiency, scalability, and adaptability. The platform is positioned for applications in data centers, artificial intelligence, advanced driver-assistance systems (ADAS), 6G networks, and enterprise high-performance computing, addressing an industry-wide demand for hardware capable of managing increasing compute requirements.
Morphing Machines was founded by Deepak Shapeti (CEO), Dr. Ranjani Narayan (CTO), and Prof. S.K. Nandy (Chief Scientific Advisor), building on over a decade of research at IISc. The company’s technology originates from processor development projects for DRDO and Safran Aerospace, forming the basis for its software-defined hardware capable of dynamically adapting to different workloads.
“Data centers today demand agility—REDEFINE adapts to any workload, from AI to analytics, delivering efficiency and cost savings for the next era of cloud computing,” said Deepak Shapeti, CEO of Morphing Machines. “This funding will accelerate deployment of REDEFINE into consumer cloud data centers, hyperscalers, and other high-performance computing applications.”
Rajnish Kapur, Managing Partner at IAN Alpha Fund, emphasized the strategic potential of Morphing Machines’ technology. “REDEFINE is a runtime-reconfigurable many-core processor that combines FPGA flexibility with ASIC performance. It can switch dynamically between CPU and GPU cores, making it suitable for modern AI-driven and high-performance workloads. With global demand for scalable compute increasing in AI, data centers, and emerging technologies, the timing of this investment is ideal.”
Vishesh Rajaram, Managing Partner at Speciale Invest, noted, “Morphing Machines represents a compelling combination of academic research and commercial application. REDEFINE addresses a critical need for agile, energy-efficient computing in data centers and AI workloads globally, furthering India’s growing semiconductor ecosystem.”
The Series A proceeds will fund prototype chip development, testing, and software toolchain enhancements, and support the company’s expansion from 50 to over 90 employees. Morphing Machines also plans to engage with early adopter data center clients for pilot projects, and eventually expand into international markets, including the U.S. and Europe, where high-performance computing demand continues to grow.
Over the next 12 to 24 months, Morphing Machines intends to complete its first proof-of-silicon chip, secure paid pilot projects, and strengthen its software platform, positioning itself as a global competitor in semiconductor accelerators.
