Morphing Machines Raises ₹38.36cr to Fast-Track REDEFINE Processor for Data Centres

Bengaluru-based fabless semiconductor IP start-up Morphing Machines announced on Monday it has raised ₹38.36 crore in a Series A round led by IAN Alpha Fund.

The fundraise also saw participation from Speciale Invest, IvyCap Ventures and Navam Capital, along with existing seed investors, including Golden Sparrow Ventures, IIMA Ventures and DeVC, also remain on board.

The funding will accelerate development of the Indian Institute of Science (IISc) incubated start-up’s REDEFINE architecture.

REDEFINE is a runtime-reconfigurable many-core processor which combines FPGA-like flexibility with ASIC-level performance for demanding workloads in data centres, high-performance computing and AI.

Morphing Machines plans to use the proceeds to build and test its first chip, expand product development, refine its software toolchain and grow the team from about 50 to more than 90 employees.

Deeptech Roots

Founded by Deepak Shapeti (CEO), Dr. Ranjani Narayan (CTO) and Prof. S. K. Nandy (Chief Scientific Advisor), Morphing Machines traces its technology to more than a decade of IISc research and earlier defence and aerospace projects.

The start-up says REDEFINE can dynamically reconfigure core capacity to switch between CPU-style and GPU-style functions, an approach it argues will deliver agility and lower total cost of ownership for cloud providers and hyperscalers facing surging, heterogeneous compute demands.

“Data centres today demand agility, REDEFINE uniquely adapts to any workload, from AI to analytics, delivering breakthrough efficiency and lower costs for the next era of cloud computing,” said Deepak Shapeti. The company plans customer demos and paid pilot projects with data-centre operators over the coming 12–24 months as it readies a proof-of-silicon.

Investor View

Rajnish Kapur, Managing Partner at IAN Alpha Fund, described the start-up as a rare deep-tech opportunity born from nearly two decades of IISc research. “With rising demand from Generative AI, 6G and other compute-intensive applications, the need for scalable AI acceleration is urgent,” he said. Speciale Invest’s Vishesh Rajaram added that REDEFINE™ addresses a global need for compute agility and fits India’s semiconductor mission.

The company said it is supported by government initiatives such as Design-Linked Incentive (DLI) and Chips2Start-up (C2S), and intends to pursue global markets including the US and Europe once prototypes are validated.

Roadmap and Risks

Morphing Machines has set an ambitious 12–24 month timeline to complete a first proof-of-silicon, sign paid pilots with cloud customers and mature its toolchain. Achieving those milestones will require navigating complex chip development cycles, manufacturing partnerships and the capital intensity typical of semiconductor start-ups.

The firm’s fabless model and IISc pedigree, combined with fresh capital and grant support, are designed to de-risk those steps as it seeks early adopter traction.

Morphing Machines is a Bengaluru fabless semiconductor IP company incubated at the Indian Institute of Science. The firm is developing REDEFINE™, a runtime-reconfigurable many-core processor aimed at delivering ASIC-level performance with FPGA-like flexibility for data centres, AI acceleration and high-performance compute.

Its leadership team includes industry and academic veterans and the company is backed by IAN Alpha Fund, Speciale Invest, IvyCap Ventures, Navam Capital and other early-stage investors.