Vimag Labs raises $5M Series A led by Accel to commercialize magnet-free motor technology for EVs. The funding supports manufacturing setup and engineering development.
Amount Raised
$5 Million
Round Type
Series A
BengaluruManufacturingAutomotiveInvestors
Description
Bengaluru-based deep-tech startup Vimag Labs completed a $5 million Series A funding round led by venture capital firm Accel, with participation from Chakra Growth Fund and Thinkuvate. The capital will support the company's manufacturing setup and engineering development as it transitions to commercial supply. Vimag Labs has developed a Virtual Magnet Synchronous Motor that replaces rare-earth magnets with copper coils and advanced power electronics. The company is conducting pilot programs with two-wheeler and passenger vehicle manufacturers to validate the technology.
Quick answer
Vimag Labs raised $5 Million in a Series A round, dated September 14, 2026. Investors: Chakra Growth Fund, Thinkuvate and Accel. Vimag Labs is based in Bengaluru, Karnataka, India.
- How much did Vimag Labs raise?
- Vimag Labs raised $5 Million in a Series A round on September 14, 2026.
- Who invested in Vimag Labs?
- Chakra Growth Fund, Thinkuvate and Accel are named as investors in this round.
- What does Vimag Labs do?
- Vimag Labs is a Bengaluru-based deeptech startup developing innovative magnet-free electric motor and control systems.
- Where is Vimag Labs based and how big is it?
- Vimag Labs is based in Bengaluru, Karnataka, India. Fundz records about 7 employees.
Source: Fundz verified event record.
Who else raised in Automotive and Manufacturing around the same time
Companies in the same sectors as Vimag Labs that raised within 45 days of this round, from Fundz verified event records.
- Lucid Group raised $400M (Debt Financing) on October 9, 2026.
- CapGrid raised $5.3M on October 29, 2026.
- Viridian Ingni Propulsion raised $154K (Pre-Seed) on October 29, 2026.
- NOVUS raised an undisclosed amount on October 19, 2026.
- CapGrid Solutions raised $4.9M (Series B) on October 16, 2026.
- Rivian Automotive raised $1B (Debt Financing) on October 7, 2026.
Who to call at Vimag Labs, and when
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