Morphing Machines, a startup in the fabless semiconductor industry, has successfully raised $2.76 million (about INR 23 crore) in a seed fundraising round. The transaction was led by Speciale Invest.
The funds will be utilized to accelerate product development and prototyping, enhance the engineering staff, and facilitate go-to-market strategies.
Notable participants in the round included IvyCap Ventures, Golden Sparrow, Navam Capital, CIIE Initiatives, and DeVC.
Morphing Machines asserts that it receives support from the Ministry of Electronics & Information Technology (MeitY) through the Design Linked Incentive Scheme (DLI) and Chips to Startup (C2S) schemes. The objective is to develop a “many-core” procadanalysis, artificial intelligence, telecommunications, and high-performance computing.
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Morphing Machines seeks to provide consumers with improved performance and energy efficiency through the use of this adaptable processor, while also lowering the time and cost required to bring goods to market.
Morphing Machines boasts a workforce of more than 20 individuals and is in the midst of increasing to over 40 personnel. This expansion is aimed at bolstering support for design, verification, emulation, and tape-out operations.
About Morphing Machines
Founded in 2006 by S K Nandy, Ranjani Narayan and Deepak Shapeti, Morphing Machines Pvt Ltd is a closely held fabless semiconductor company based in Bangalore. Morphing Machines was launched by the Technology Entrepreneurship Initiative of the Indian Institute of Science in Bangalore.
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