Vimag Labs Bets on Magnet-Free Motors, Eyes ₹100 Cr Revenue in FY28

Key points

• Vimag Labs is developing electric motors without rare-earth permanent magnets.
• The company plans to expand into electric mobility, industrial equipment, and defence applications.
• Vimag's patented VMSM technology replaces physical magnets with electronically controlled magnetic fields.
• The manufacturing facility in Jhajjar spans 10,000 sq ft and can be expanded to 20,000 sq ft.
• Vimag has exported its first production batch of controllers to the US and Germany.
• The company raised $5 million in its Series A funding round led by Accel.