Bengaluru Semiconductor Start-up Morphing Machines Raises ₹38.36 Crore in Series A Funding.

Bengaluru-based fabless semiconductor IP start-up Morphing Machines has raised ₹38.36 crore in a Series A funding round led by IAN Alpha Fund, with participation from Speciale Invest, IvyCap Ventures, and Navam Capital.

The start-up, incubated at the Indian Institute of Science (IISc), plans to use the fresh capital to build and test its first chip, enhance its product offerings, and expand its team from 50 to over 90 members. The company is also preparing to begin customer demonstrations and secure early adoption of its technology in data centers.

Existing seed investors—including Speciale Invest, IvyCap Ventures, Navam Capital, Golden Sparrow Ventures, IIMA Ventures, and DeVC—have continued to back the company.

In the next 12 to 24 months, Morphing Machines will focus on developing a proof-of-silicon chip, launching paid pilot projects with data center clients, and refining its software toolchain. The company also has its sights set on global expansion into key markets such as the US and Europe, where demand for high-performance computing in data centers is rapidly growing.