Vimag Labs Secures $5 Million Funding for Electric Motor Technology

Vimag Labs, a pioneering deep-tech startup, has successfully raised $5 million in funding. This round was primarily led by Accel, with additional contributions from Chakra Growth Fund and Thinkuvate. The funds will be utilised to expedite the commercialisation of its patented virtual magnet synchronous motor platform and to enhance its engineering and manufacturing capabilities. This was confirmed by Vimag Labs in a recent press release.

Co-founded in September 2025 by Manish Seth and Piyush Desai, Vimag Labs is dedicated to creating cutting-edge, magnet-free electric motor technology aimed at diminishing reliance on rare earth metals. The startup is focused on delivering high-efficiency electric motors suitable for electric vehicles (EVs), industrial machinery, and HVAC systems, all while steering clear of rare earth metals. This approach assists in addressing issues of price instability and supply chain challenges.

Innovative Technology and Applications

According to this Bengaluru-based startup, its motors are primarily software-defined. By employing advanced electronics and control software, Vimag Labs is able to generate magnetic fields electronically within the motor. This innovation enables the achievement of all the advantages of conventional magnet-based motors without their associated drawbacks.

At present, Vimag Labs is concentrating on the commercialisation of two- and three-wheeler electric vehicles. Its motors are also adaptable for various industrial applications including HVAC systems, refrigeration, and defence.

Current Status and Collaborations

Vimag Labs has indicated that its technology is presently undergoing real-world vehicle testing and has reached a technology readiness level (TRL) of 7. The startup has commenced the commercialisation of components within its electronics stack and is collaborating with several large original equipment manufacturers (OEMs) both in India and internationally.

For automotive manufacturers, Vimag Labs’ solution is engineered as a plug-and-play, drop-in system that requires minimal adjustments to existing manufacturing lines or vehicle platforms.