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Morphing Machines raises $2.76 Mn in seed round

EntrackrEntrackr · 1y ago
Morphing Machines raises $2.76 Mn in seed round
Medial

Fabless semiconductor startup Morphing Machines has raised $2.76 million in its seed round led by Speciale Invest, a seed stage VC investing in deep technologies. The round also saw participation from IvyCap Ventures, Golden Sparrow, Navam Capital, CIIE Initiatives, and DeVC. The proceeds will be used to ramp up product development and prototyping, expand the engineering team, and support go-to-market initiatives, the company said in a press release. Supported by the Ministry of Electronics & Information Technology (MeitY) under the Design Linked Incentive Scheme (DLI) and Chips2Startup (C2S) schemes, Morphing Machines is developing REDEFINE, a many-core processor Soft IP. This processor can handle various applications like data analysis, artificial intelligence, telecommunications, and high-performance computing. By combining functions typically managed by different types of processors, Morphing offers customers better performance and energy efficiency, while also reducing the time and cost needed to bring products to market. Currently, Morphing Machines has a team of over 20 members and is expanding to over 40 members to support design, verification, emulation, and tape-out processes.

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Ethereal Machines raises $13 Mn led by Peak XV and Steadview

EntrackrEntrackr · 1y ago
Ethereal Machines raises $13 Mn led by Peak XV and Steadview
Medial

Advanced manufacturing startup Ethereal Machines has raised $13 million in a Series A round led by Peak XV Partners and Steadview Capital. Existing investors Blume Ventures, Enam Investments, and Sandeep Singhal also participated in this round. The funds raised will be utilized for R&D, building multi-axis CNC controllers and constructing its second smart factory in the next 12 months, Ethereal said in a press release. This new factory will span 250,000 square feet on the outskirts of Bengaluru. Founded by Kaushik Mudda and Navin Jain, decade-old Ethereal Machines produces precision engineering components via its proprietary multi-axis CNC machines. Its machines enable precision engineering components to be produced at fast and cost-effective rates. Ethereal caters to customers from the USA, Europe, Israel, and India. As per the company, it has manufactured precision components for numerous emerging companies in the deep-tech sector, including space-tech, drones, medical diagnostics, and thermal imaging. On average, Ethereal’s manufacturing solutions claim that it reduces costs for their customers by 30% and production lead times by 40%. The company also launched two new machines, Aura and Nimbus. The Bengaluru-based startup claims that it has seen a 4x increase in revenue and a 3x increase in production capacity in the last 12 months. Ethereal Machines had raised $7.3 million from Peak XV’s Surge, Blume Ventures and others in July last year. As per startup data intelligence platform TheKredible, Blume was the largest external stakeholder in the company as of the last funding round with over 18% stake followed by Surge Ventures which controls more than 17% stake. Ethereal Machines reported Rs 2.30 crore in revenue from operations in FY23 against Rs 60 lakh in FY22. According to TheKredible, The company’s losses also increased to Rs 4.69 crore in FY23 from Rs 2.6 crore in the previous fiscal year.

Fodder ecosystem builder Cornext raises $2.2 Mn from Omnivore

EntrackrEntrackr · 1y ago
Fodder ecosystem builder Cornext raises $2.2 Mn from Omnivore
Medial

Cornext, which is building a fodder ecosystem to support dairy cattle farmers, has raised $2.2 million in a seed round from Omnivore. According to Cornext, the funds will be used to ramp up its yearly silage production to 1 million metric ton by 2026 and invest in R&D in baling technology. Founded in 2015 by Madhav Kshatriya and Feroz Ahmed, Cornext’s technology makes compact 50 kg silage bales, which are sold to dairy farmers through a network of village-level fodder entrepreneurs. So far, the startup has launched 400 fodder entrepreneurs across India and has begun exporting its silage baling machines across Asia, Africa, and Latin America. Hyderabad-based Cornext is serving as a member of the National Advisory Council of India’s Department of Animal Husbandry. In 2020, the startup received the national best startup award in agriculture-allied sectors from the government of India. Its institutional clientele to date includes AMUL, SUMUL, BANAS, MILMA, KMF, and many other large dairies and cooperatives.

OneTab AI raises $3.3 Mn in seed round

EntrackrEntrackr · 4m ago
OneTab AI raises $3.3 Mn in seed round
Medial

OneTab AI raises $3.3 Mn in seed round Workplace SaaS startup OneTab AI has raised $3.3 million (Rs 28.6 crore) in its seed round co-led by LIT Fund and Orbit. The round also saw participation from a Singapore-based family office, SOSV, Sunil Kumar Singhvi and the company’s founders. The proceeds will be used to ramp up the development and deployment of OneAsk, its AI agent designed to manage the entire software development life cycle (SDLC). Founded in November 2023 by Saket Dandotia, Sonal Dandotia, and Alok Patil, OneTab integrates project management, communication, API development, CI/CD, and AI-driven automation into a single platform, addressing inefficiencies in traditional tools like Slack and Asana. Its proprietary LLMs, OneGPT and OneCode, enable AI-powered project management, coding assistance, and automation while ensuring data privacy through private hosting. Its flagship AI agent, OneAsk streamlines workflows into a single intelligent platform, enabling developers, project managers and businesses to work more efficiently.

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