Magnax - About the company
Magnax is a series C company based in Kortrijk (Belgium), founded in 2015 by Daan Moreels, Kester Goh and Peter Leijnen. It operates as a Platform offering axial flux motors for electric vehicles. Magnax has raised $80.4M in funding from investors like BIG Capital, Pan-International and Hirschvogel Automotive Group. The company has 168 active competitors, including 32 funded and 19 that have exited. Its top competitors include companies like Varroc, TSUYO and Chara.
Company Details
Platform offering axial flux motors for electric vehicles. It develops various models of motors like AXF250-X, and AXF250-S involving axial flux technology. It offers features like lightweight, peak power densities of 15 kW/kg, an oil cooling system, etc. The product offered has more power density and more vehicle range.
- Website
- www.magnax.com
- Social
- Email ID
- *****@magnax.com
- Registered Address
- Evolis 100 8500 Kortrijk Belgium
Key Metrics
Founded Year
2015
Location
Kortrijk, Belgium
Stage
Series C
Total Funding
$80.4M in 4 rounds
Latest Funding Round
Investors
Ranked
3rd among 168 active competitors
Employee Count
27 as on Aug 31, 2026
Legal entities associated with Magnax
Magnax is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Reports |
|---|---|---|---|---|
Magnax CIN: 0629.721.822 , Belgium, Active | Apr 29, 2015 | - | 11 (As on Dec 31, 2023) | - |
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Magnax's funding and investors
Magnax has raised a total funding of $80.4M over 4 rounds. Its first funding round was on Jan 01, 2018. Its latest funding round was a Series C round on Apr 06, 2026 for $*****. 2 investors participated in its latest round. Magnax has 10 institutional investors.
Here is the list of recent funding rounds of Magnax:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Apr 06, 2026 | 3021848 | Series C | 1958818 | 9681608 | 5798110 | 7477321 |
Aug 25, 2022 | 3079839 | Series B | 7908731 | 6686408 | 5702350 | |
Jan 04, 2021 | 3078499 | Series A | 8943371 | 6552892 |
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Magnax's founders and board of directors
Founder? Claim ProfileHere are the details of Magnax's key team members:
- Daan Moreels: Co-Founder of Magnax and founder of 1 other company. They serve on the board of 1 company.Contact Info: 1 email address
- Kester Goh: Co-Founder of Magnax and founder of 1 other company. They serve on the board of 1 company.Contact Info: 1 email address
- Peter Leijnen: Co-Founder of Magnax. They serve on the board of 1 company.Contact Info: 1 email address
Magnax's Board of Directors
Magnax's board has 3 active members. Daan Moreels, Kester Goh and Peter Leijnen are part of team.Here is the list of Magnax's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | - | |
Team | - | Current | - | |
Team | - | Current | - |
View details of Magnax's Founder profiles and Board Members
Magnax's employee count trend
Magnax has 27 employees as of Aug 26. Here is Magnax's employee count trend over the years:
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Magnax's Competitors and alternates
Top competitors of Magnax include Varroc, TSUYO and Chara. Here is the list of Top 10 competitors of Magnax, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Manufacturer of automotive components | $50.1M | 67/100 | ||
2nd | Platform offering motors for multi-category electric-three wheelers | $4.5M | 64/100 | ||
3rd | Platform offering axial flux motors for electric vehicles | $80.4M | 60/100 | ||
4th | Manufacturer of rare-earth free motor systems and intelligent motor controllers | $11.9M | 58/100 | ||
5th | Manufacturer of electric motors for multiple categories of vehicles | $15M | 55/100 | ||
6th | _1524036264649.png?devicePixelRatio=2&height=30&width=30){kind=logo} YASA 2009, Kidlington (United Kingdom), Acquired | Manufacturer of electric motors and controllers | $97.5M | 55/100 | |
7th | Mabuchi Motor 1954, Matsudo (Japan), Public | Manufacturer and supplier of major auto components | - | - | 52/100 |
8th |  EVR Motors 2012, Petah Tikva (Israel), Series A | Manufacturer platform for electric motor technology | - | 50/100 | |
9th |  Sterling E-Mobility Solutions 2020, Faridabad (India), Unfunded | Manufacturer of electric vehicle powertrain components, motor control units, and motors | - | - | 49/100 |
10th |  Mecwin Technologies 2017, Bengaluru (India), Seed | Manufacturer of EV motors, solar pumps, controllers, and IoT products | $2.53M | 49/100 |
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Magnax's Investments and acquisitions
Magnax has made no investments or acquisitions yet.
Reports related to Magnax
Here is the latest report on Magnax's sector:
News related to Magnax
Media has covered Magnax for a total of 2 events in the last 1 year.
•
Magnax Secures €35.5 Million Strategic Investment from Pan-International Industrial Corp. and Foxconn GroupWebDisclosure•May 06, 2026•Magnax
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Magnax Raises €35.5M With Foxconn Support To Scale Axial Flux Motor TechnologyStartup Rise EU•Apr 06, 2026•Foxconn Electronics, Magnax
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Belgium-based Magnax raises €20M to develop powerful new motors for electric vehiclesSilicon Canals•Aug 25, 2022•Magnax, Hirschvogel Ventures, Torus, Vlerick Group
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