Virtual Magnet Motor Innovator Volektra Raises New Funding to Commercialize Its Technology

Electric drivetrain innovator Volektra has secured a new funding round to commercialize its proprietary Virtual Magnet motor technology–an industry-first breakthrough that eliminates rare earth magnets

Electric drivetrain innovator Volektra has closed a new funding round to commercialize its groundbreaking Virtual Magnet motor technology. This breakthrough invention, still the first of its kind in the world, eliminates the use of rare earth magnets through a radically reimagined motor architecture.

The round was led by Chakra Growth Capital, with participation from strategic investors specializing in deep tech, manufacturing resilience, and energy independence.

This investment will propel the rapid expansion of Volektra’s unique drivetrain technology across automotive, micromobility, industrial, and defense markets. As part of its broader strategy, Volektra is actively engaged in proof-of-concept programs with major global automotive OEMs. Concurrently, the company is deploying its technology through its own micromobility systems, aiming to launch the first phase of these products later this year.

Sri Purisai, Managing Director at Chakra Growth Capital, added: “At Chakra Growth Capital, we invest in technologies that will drive efficiency, sustainability, and long-term impact. Volektra’s Virtual Magnet motor is a game-changer; it eliminates reliance on critical rare-earth materials while delivering superior performance and cost advantages. As industries rapidly electrify assets in their quest for net-zero goals, Volektra is uniquely positioned to enable scalable, cost-effective, and sustainable decarbonization. We are thrilled to support their growth and the significant impact they will have in the years ahead.”

Volektra’s Virtual Magnet motor leverages software-defined magnetic fields and an advanced coil architecture to match the performance of permanent magnet motors without using a single rare earth material. The result is a compact, efficient, and scalable platform that eliminates the supply chain risks, environmental damage, and cost volatility associated with traditional designs. This cutting-edge technology is the culmination of several years of R&D, led by a cross-continental team with 200+ years of combined experience in electric motor design, control systems, and industrialization. Every element—from the advanced embedded algorithms and firmware to the mechanical design and power electronics—has been designed and developed in-house at Volektra’s engineering centers in Sacramento and Krakow.

“At Ecozen, we believe in pushing boundaries to create technologies that will help us mitigate climate change. Whether it’s climate-smart cooling solutions, sustainable energy solutions, or intelligent power management systems, we are committed to making a difference. We are huge fans of Manish and the team at Volektra for creating the Virtual Magnet motor—a breakthrough technology that will revolutionize the industry. It breaks free from rare earth dependency while delivering unmatched performance and scalability. This aligns perfectly with our mission to drive innovation that will empower rural communities. As believers in technology that is cleaner, smarter, and more resilient, we are excited to support Volektra in shaping a future where electrification is not just sustainable but truly transformative,” said Devendra Gupta, CEO and Co-Founder, Ecozen Solutions Pvt. Ltd.

Manish Seth, CEO & Founder of Volektra, further commented: “This technology isn’t just about performance—it’s about sovereignty. By removing rare earths from the equation, we enable advanced motor manufacturing in the U.S., Europe, and India to flourish without compromise. Rare earth minerals should be reserved for the few elite applications that truly NEED them. Our belief is simple: motors don’t. And we’ve proven that—with no trade-offs in cost, quality, or scalability. It’s a fundamental shift for every industry heating up in this electric revolution.”

Beyond its core motor technology, Volektra is also developing the Volektra Smart & Connect platform—a connected system layer that seamlessly integrates with its drivetrains. This platform enables over-the-air (OTA) updates, remote diagnostics, predictive maintenance, and fleet-level analytics, transforming every Volektra-powered product, such as Vollkit, into an intelligent, connected system. Designed for OEMs, operators, and industrial users, it provides a data-rich, serviceable electric powertrain solution for the modern era.

With this investment, Volektra is transitioning from deep tech development to full-scale commercialization, positioning itself at the forefront of a new era in electrification—one that is clean, connected, and independent of rare earth constraints.

About Volektra

Volektra is a Sacramento-based electric drivetrain company advancing the future of clean mobility through high-efficiency, wireless systems and magnet-free motor technologies. Founded to drive performance without compromise, Volektra reduces critical material dependence while delivering scalable, sustainable solutions for micromobility, automotive, and energy applications. With a strong IP portfolio, proven products, and a mission to cut one gigaton of CO2 emissions, Volektra is fundamentally changing how the world moves—cleaner, smarter, and freer from critical material bottlenecks.

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