Vimag Labs - About the company
Vimag Labs is a series A company based in Bengaluru (India), founded in 2025 by Piyush Desai and Manish Kumar Seth. It operates as a Provider of magnet-free electric motor and power electronics solutions. Vimag Labs has raised $5M in funding from Accel, with a current valuation of $*****. The company has 493 active competitors, including 53 funded and 13 that have exited. Its top competitors include companies like Ather Energy, Gogoro and Oben Electric.
Company Details
Provider of magnet-free electric motor and power electronics solutions using a patented virtual magnet synchronous motor platform. The motors replace rare earth permanent magnets with software-defined magnetic fields generated via power electronics and real-time algorithms, matching performance while avoiding volatility and supply chain issues.
- Website
- vimaglabs.com
- Registered Address
- No. 136, 1st Cross, 5th Block, Koramangala, Bangalore, Bangalore South, Karnataka, India, 560034
Key Metrics
Founded Year
2025
Location
Bengaluru, India
Stage
Series A
Total Funding
$5M in 1 round
Latest Funding Round
Post Money Valuation
$***** as on Feb 18, 2026
Ranked
51st among 493 active competitors
Employee Count
5 as on Apr 30, 2026
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Legal entities associated with Vimag Labs
Vimag Labs is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
VIMAG LABS PRIVATE LIMITED CIN: U29301KA2025PTC208574 , India, Active | Sep 17, 2025 | - | - |
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Vimag Labs's funding and investors
Vimag Labs has raised a total funding of $5M over 1 round. Its latest funding round was a Series A round on Jan 29, 2026 for $*****. 3 investors participated in its latest round. Vimag Labs has 3 institutional investors.
Here is the list of recent funding rounds of Vimag Labs:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Jan 29, 2026 | 7753662 | Series A | 7263238 | 7127653 | 7714978 | 6499501 |
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Vimag Labs' founders and board of directors
Founder? Claim ProfileThe founders of Vimag Labs are Piyush Desai and Manish Kumar Seth.
Here are the details of Vimag Labs' key team members:
- Piyush Desai: Co-Founder of Vimag Labs.
- Manish Kumar Seth: Co-Founder & Director of Vimag Labs.
View details of Vimag Labs's Founder profiles and Board Members
Vimag Labs' employee count trend
Vimag Labs has 5 employees as of Apr 26. Here is Vimag Labs's employee count trend over the years:
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Vimag Labs's Competitors and alternates
Top competitors of Vimag Labs include Ather Energy, Gogoro and Oben Electric. Here is the list of Top 10 competitors of Vimag Labs, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  Ather Energy 2013, Bengaluru (India), Public | Manufacturer of electric scooters, charging infrastructure, smart helmets, and accessories | $502M | 84/100 | |
2nd | Platform offering electric scooters and operator of battery swapping networks | $765M | 77/100 | ||
3rd |  Oben Electric 2020, Bengaluru (India), Series A | Platform offering two wheeler motorcycle products | $37.6M | 75/100 | |
4th |  Ultraviolette 2016, Bengaluru (India), Series E | Manufacturer of electric motorcycles, components, rider safety equipment, and charging infrastructure | $149M | 74/100 | |
5th | Manufacturer of electric scooters designed for urban and developing environments | $31.1M | 70/100 | ||
6th |  Simpl Energy 2019, Bengaluru (India), Series A | Manufacturer of electric scooters designed for urban and long-distance travel | $85.6M | 67/100 | |
7th | Platform offering electric motorcycles | $15.9M | 66/100 | ||
8th |  Ola Electric 2017, Bengaluru (India), Public | Manufacturer of electric scooters, motorcycles, and energy storage solutions | $1B | 66/100 | |
9th | Manufacturer of electric scooters, electric cycles, and electric mopeds | $1.92M | 66/100 | ||
10th |  Bounce Infinity 2014, Gurugram (India), Series F | Manufacturer of electric scooters featuring removable batteries for portable charging | $226M | 64/100 | |
51st | Vimag Labs 2025, Bengaluru (India), Series A | Provider of magnet-free electric motor and power electronics solutions | $5M | 40/100 |
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Vimag Labs's Latest cap tables and shareholding
Founders (largest shareholder) own 62.56%, Funds own 20.87%, Enterprises own 5.25% and Angels own 1.32%. The net worth of Vimag Labs's founders is INR 139Cr as of Feb 18, 2026.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 62.56% | 139Cr | 9303479 | 2157147 | 4417227 | 8920679 |
2739781 | 5936898 | 7545658 | 4811193 | 7802010 | 3613765 | |
Fund | 20.87% | 46.2Cr | 3665358 | 6874798 | 1135199 | 1791354 |
3765647 | 9485061 | 9299767 | 7271084 | 8765216 | 9420846 | |
2 | 3 | 6 | 5 | 7 | 5 | |
Enterprise | 5.25% | 11.6Cr | 94358 | 95436 | 23651 | 40429 |
Angel | 1.32% | 2.91Cr | 7 | 4 | 2 | 7 |
Other People | 0.00% | 13.9K | 0 | 0 | 0 | 0 |
ESOP Pool | 10.00% | 22.2Cr | 7746274 | 1119330 | 6998514 | 4312529 |
Total | 100.00% | 222Cr | 6603100 | 2494178 | 9628955 | 1304618 |
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Vimag Labs's Investments and acquisitions
Vimag Labs has made no investments or acquisitions yet.
Reports related to Vimag Labs
Here is the latest report on Vimag Labs's sector:
News related to Vimag Labs
Media has covered Vimag Labs for 1 event in last 1 year.
•
Vimag Labs raises $5 million in round led by AccelStartupNews•Jan 29, 2026•Accel, Vimag Labs, Chakra Growth Capital, ThinKuvate
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