Bengaluru-based deep-tech startup Vimag Labs has raised $5 million (around ₹46 crore) in a funding round led by Accel, with participation from Chakra Growth Fund and Thinkuvate, as it looks to scale its next-generation electric motor technology.
The fresh capital will be used to accelerate the commercialisation of its patented Virtual Magnet Synchronous Motor (VMSM) platform and to expand its engineering and manufacturing capabilities, the company said in a statement.
Founded in September 2025 by Manish Seth and Dr. Piyush Desai, Vimag Labs is tackling one of the electric vehicle industry’s biggest challenges, dependence on rare earth magnets, which are expensive, supply-constrained, and geopolitically sensitive. The startup is building high-efficiency, magnet-free electric motors for EVs and industrial applications, without compromising on performance.
At the core of Vimag Labs’ innovation is its software-defined motor architecture. Instead of relying on permanent magnets, the company uses advanced power electronics and control software to generate magnetic fields electronically inside the motor, delivering the benefits of magnet-based motors while avoiding their drawbacks.
The startup is currently focused on two- and three-wheeler EVs for initial commercial deployment, with additional use cases across industrial machinery, HVAC systems, refrigeration, and defence.
Its motors are designed as a plug-and-play, drop-in solution, requiring no major changes to existing vehicle platforms or manufacturing lines.
Vimag Labs’ technology is already undergoing real-world vehicle testing and has reached Technology Readiness Level (TRL) 7. The company is working with multiple large OEMs in India and overseas and has begun commercialising parts of its electronics stack.
