PE-VC Fund Investments
Magnet-free electric motors maker Vimag Labs raises $5-M led by Accel
Bengaluru-based Vimag Labs has raised USD 5 million in a round led by Accel, with participation from Chakra Growth Fund and Thinkuvate.Founded by Manish Seth and Piyush Desai, Vimag Labs develops magnet-free electric motors and control systems. The company is building a foundational motor architecture designed to deliver the efficiency of permanent magnet motors without the use of rare earth metals.The new capital raised will be deployed to accelerate the commercialisation of the firm’s patented virtual magnet synchronous motor platform and to expand its engineering and manufacturing capabilities.
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