Bengaluru-based deeptech startup Vimag Labs has raised $5 million in a Series A funding round led by Accel, with participation from Chakra Growth Fund and Thinkuvate. The funding will be used to accelerate the commercialisation of its patented Virtual Magnet Synchronous motor platform and to expand engineering and manufacturing capabilities.

Founded in September 2025 by Manish Seth and Dr. Piyush Desai, Vimag Labs is developing advanced magnet-free electric motors and power electronics aimed at reducing dependence on rare earth materials. Its patented Virtual Magnet architecture uses sophisticated electronics and control software to generate magnetic fields electronically, delivering performance comparable to traditional magnet-based motors while addressing cost volatility, supply chain risks, and environmental concerns.

The software-defined motors are designed as plug-and-play, drop-in systems, enabling easy adoption by automakers without major manufacturing changes. Vimag Labs is initially targeting two- and three-wheeler EVs, while expanding into industrial, HVAC, refrigeration, and defence applications. The technology has reached TRL 7 and is undergoing real-world vehicle testing, with active engagements across multiple global OEMs.