Series A funding to accelerate motor technology development
Bengaluru-based Vimag Labs has secured $5 million in Series A funding, led by Accel, with participation from Chakra Growth Capital and ThinKuvate. The funding round is expected to support the company’s efforts to advance and scale its magnet-free electric motor technology for electric vehicle applications.
The investment reflects rising interest in alternative motor architectures that can reduce reliance on rare-earth materials while maintaining efficiency and performance.
Virtual Magnet motor architecture
Vimag Labs is developing a patented Virtual Magnet motor architecture, which eliminates the need for permanent magnets traditionally used in EV motors. The technology is supported by in-house power electronics and control algorithms, enabling precise performance control without rare-earth inputs.
This approach addresses growing concerns around supply-chain dependency, cost volatility, and geopolitical risks associated with magnet-based motor systems. By integrating software, electronics, and motor design, Vimag Labs aims to offer a differentiated solution for the EV market.
Global R&D footprint and EV motor branding
The company operates its EV motor business under the Volektra brand, positioning itself as a specialised player in electric drivetrain technologies. In addition to its Bengaluru base, Vimag Labs has established development centres in Germany, the United States, and Poland, supporting global research, validation, and engineering efforts.
The international footprint allows the company to align its technology development with global EV standards and market requirements. With fresh Series A capital, Vimag Labs is expected to focus on technology maturation, validation, and scaling opportunities as demand for electric mobility solutions continues to rise.
