8 months ago
Vimag Labs Secures $5M for Magnet-Free Motor Tech
Vimag Labs is a company that makes electric motors and power electronics.
They just got $5 million from investors like Accel to help them grow.
Their special technology is a motor that doesn't need magnets, which makes it cheaper and better for the environment.
The money will help them make more of these motors and sell them to car companies, defence, and factories.
The company was started by two people, Manish Seth and Dr Piyush Desai, and they have teams working in Germany, the US, and Poland.
Investors think this technology is important because it solves problems with making electric things, like cost and supply issues.
Vimag Labs raised $5 million in Series A funding led by Accel, with participation from Chakra Growth Fund and Thinkuvate.
The funding will support the commercialization of its patented magnet-free Virtual Magnet platform and expand engineering and manufacturing capabilities.
The technology aims to improve performance while addressing cost, supply chain resilience, and environmental sustainability.
Vimag Labs operates under the Volektra brand and has development and operations teams in Germany, the US, and Poland.
The company plans to scale the technology globally across automotive, defence, and industrial sectors.
- Who
- Vimag Labs, a Bengaluru-based electric motor and power electronics company
- What
- Raised $5 million in Series A funding to scale its magnet-free motor technology
- Where
- Bengaluru, with operations in Germany, the US, and Poland
- When
- January 29, 2026
- Why
- To commercialize its patented Virtual Magnet platform and expand engineering and manufacturing capabilities
Key facts
- Company
- Vimag Labs
- Funding Amount
- $5 million
- Lead Investor
- Accel
- Technology
- Magnet-free Virtual Magnet platform
- Founders
- Manish Seth and Dr Piyush Desai
- Key Sectors
- Automotive, Defence, Industrial
- Global Operations
- Germany, US, Poland
Quotes
Manish Seth
Founder and CEO of Vimag Labs
“This funding validates our conviction that Virtual Magnet motor architecture represents a fundamental shift in how the industry addresses electrification at scale.”
thehindubusinessline.com
Barath Subramanian
Partner at Accel
“Their magnet-free architecture, combined with deep integration of power electronics and control software, positions the company to redefine how electric drivetrains are designed and scaled.”
thehindubusinessline.com
Sources
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