Morphing Machines Raises ₹38 Crore to Build Flexible AI Chips for Data Centers

Morphing Machines, a fabless semiconductor IP venture spun out from the Indian Institute of Science (IISc), has raised ₹38.36 crore in its Series A round, led by IAN Alpha Fund and joined by Speciale Invest, IvyCap Ventures, and Navam Capital. The company, with foundations in deep research and prior government and aerospace projects, is developing a flexible many-core processor designed to address fast-evolving and demanding workloads across AI, analytics, and next-generation enterprise computing.

Reconfigurable Processors Address Data Center Demands

The company’s core product, REDEFINE, is a runtime reconfigurable manycore compute processor. Unlike traditional fixed-architecture chips, this processor is described as able to “dynamically switch between CPU and GPU capacity cores," accommodating shifting needs in cloud data centres, AI, 6G, and ADAS. The goal is to offer greater performance agility, energy efficiency, and cost-effectiveness for large-scale data infrastructure—sectors where scaling compute power remains a pressing challenge.

Founders with Deep Technical Roots

Morphing Machines is led by Deepak Shapeti (Co-Founder & CEO), Dr Ranjani Narayan (Founder & CTO), and Prof. S.K. Nandy (Founder & Chief Scientific Advisor)—all of whom have strong ties to IISc. Their expertise draws from over a decade of research, including work for agencies like DRDO and Safran Aerospace. That academic-to-industry pipeline helped spark the company’s vision of software-defined hardware tailored for the unpredictable demands of modern data processing.

Investors highlight the significance of Morphing Machines’ breakthrough architecture, with backing from repeat and new stakeholders such as Golden Sparrow Ventures and IIMA Ventures. The Series A funds will be directed towards building and testing the company’s first silicon chip, scaling its team, and initiating real-world pilot projects with leading data centre customers in India and eventually in saturated global markets.

In the next 12 to 24 months, Morphing Machines plans to demonstrate working silicon to customers, complete paid pilot deals, and further develop its software stack. With a team expected to nearly double in size, the company is positioning itself to become a global player in the semiconductor accelerator space—pushing the boundaries for India's deep-tech ecosystem and aiming to meet critical compute needs in global data infrastructure.