Vimag Labs’ $5M Funding Paves the Way for a Rare-Earth-Free Electric Future
In a strategic leap toward technological sovereignty and sustainable manufacturing, Bengaluru-based Vimag Labs has secured $5 million in a funding round led by Accel, with participation from Chakra Growth Fund and Thinkuvate. The startup, co-founded in 2025 by Manish Seth and Dr. Piyush Desai, is tackling one of the most critical and hidden dependencies of the global electrification wave: the rare-earth magnets at the heart of most high-efficiency electric motors.
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