India, Oct. 6 -- Semiconductor startup Morphing Machines has raised INR 38.4 Cr (about $4.3 Mn) in its Series A funding round led by IAN Alpha Fund, with participation from existing investors such as Speciale Invest, IvyCap Ventures, Navam Capital, Golden Sparrow Ventures, IIMA Ventures, and DeVC.

The fresh capital will be used to build and test Morphing Machines' first chip, strengthen its product, and expand its team to over 90 members from 50 currently. Over time, the startup plans to enter global markets like the US and Europe.

Founded by Deepak Shapeti, Ranjani Narayan, and SK Nandy in 2006, Morphing Machines is a fabless semiconductor IP startup incubated at the Indian Institute of Science (IISc), Bengaluru. It has developed a run...