Deep-tech startup Vimag Labs has raised $5 million in a funding round led by Accel, with participation from Chakra Growth Fund and Thinkuvate.
The company said the fresh capital will be used to accelerate commercialisation of its patented virtual magnet synchronous motor platform, while also expanding its engineering and manufacturing capabilities.
What Vimag Labs Builds
Co-founded in September 2025 by Manish Seth and Piyush Desai, Bengaluru based Vimag Labs is developing magnet free electric motor technology aimed at reducing dependence on rare earth metals, which are subject to supply chain concentration and price volatility.
Instead of permanent magnets, Vimag’s motors generate magnetic fields electronically using advanced power electronics and control software, making them largely software defined. This architecture is designed to deliver the performance and efficiency of magnet based motors without the associated material risks.
Target Markets and Applications
Vimag Labs is initially focusing on two- and three-wheeler electric vehicles, where cost sensitivity and scale are critical. Over time, the company plans to expand into industrial applications, including:
- HVAC and refrigeration systems
- Industrial machinery
- Defence and high reliability equipment
For automakers, the solution is designed as a plug-and-play, drop-in replacement, requiring no major changes to existing vehicle platforms or manufacturing lines, lowering adoption barriers.
Technology Maturity and Traction
The startup said its motor technology is currently undergoing real-world vehicle testing and has reached Technology Readiness Level (TRL) 7, indicating system level validation in operational environments.
Vimag Labs has already begun commercialising parts of its electronics stack and is working with multiple large original equipment manufacturers (OEMs) in India and overseas on pilot and evaluation programmes.
Why It Matters
Rare earth-free motor technologies are attracting growing global interest as automakers and industrial manufacturers seek to de-risk supply chains and lower long-term costs. Vimag Labs’ approach combining software-led control with power electronics positions it within a new wave of deep-tech companies attempting to reshape core hardware systems through computation.
The Accel-led funding round signals rising investor confidence in India-origin deep-tech platforms addressing global energy transition challenges.
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