Vimag Labs Secures Fifth Patent for Magnet-Free Electric Motor Platform Vimag Labs, a Bengaluru-based company, has successfully obtained its fifth patent in India for its proprietary Virtual Magnet Synchronous Motor (VMSM) platform. This innovation, which eliminates the reliance on rare-earth permanent magnets, represents a significant advancement in electric motor technology. The patent, titled "A Robust Rotating Transformer Excited Synchronous Motor and Its Control," covers the core architecture of the company's magnet-free motor technology. The VMSM platform operates through real-time generation and control of magnetic fields using power electronics and proprietary control algorithms, maintaining a brushless, slip-ring-free design while avoiding the need for embedded permanent magnets. Unlike conventional Permanent Magnet Synchronous Motors (PMSMs), which depend on rare-earth magnets for efficiency, the VMSM platform offers a software-defined approach. This method not only reduces dependency on scarce materials but also enhances flexibility and scalability for various applications. Manish Seth, Co-founder and CEO of Vimag Labs, emphasized the significance of the patent, stating it is the result of over 87,600 engineering hours. He highlighted how the patent strengthens the company's commercial roadmap, supporting OEM partnerships, licensing opportunities, manufacturing scale-up, and future growth. The patent adds to Vimag Labs' growing intellectual property portfolio, which now includes five granted patents. The company has ten additional patents and fifteen trademarks in the pipeline, covering areas such as motor architecture, software controls, power electronics, and application-specific implementations.#accel #manish_seth #vimag_labs #jendamark_pvt_ltd #virtual_magnet_synchronous_motor
Rapido bags fresh capital from Prosus, others at $3 bn valuation Ride-hailing and logistics platform Rapido has raised $240 million (Rs 2,302 crore) in primary capital as part of a new funding round led by existing investor Prosus, valuing the company at $3 billion. The round also included participation from WestBridge Capital, Accel, and other undisclosed investors, forming part of a broader $730 million primary and secondary financing. The Bengaluru-based startup announced the funding in a statement released on Friday. Earlier this month, VCCircle reported that Prosus and Accel had acquired a stake worth approximately Rs 1,170 crore ($123.6 million) from Skycatcher Fund LP, a U.S.-based investment firm and one of Rapido’s early backers, through a secondary transaction. Skycatcher Fund, which first invested in Rapido in January 2017, has now fully exited its holding in Roppen Transportation Services Pvt Ltd, the company’s parent entity. Aravind Sanka, co-founder of Rapido, emphasized the company’s strategic focus on expanding into markets with high demand but fragmented supply. “We are going deeper into markets where demand exists, but supply remains fragmented, building the density that gives captains reliable, predictable earnings. We will sharpen our focus on strengthening supply, building technologies, and expanding our multi-modal footprint, with far greater speed and intent,” he said. The fresh capital will be allocated to create new demand markets, deepen existing ones, and grow the company’s captain network to expand earning opportunities for drivers. Rapido also plans to invest in technology and talent to support long-term scalability. The startup has been actively increasing its presence in tier-II cities, where it is observing rising demand for its services.#rapido #prosus #westbridge_capital #accel #skycatcher_fund_lp
Mobility Platform Rapido Secures $240 Million Funding to Expand Market Reach and Tech Investments Rapido, a leading mobility platform operating in over 400 cities across India, announced on May 15, 2026, that it has raised $240 million in a funding round led by Dutch investment firm Prosus. The round also included participation from WestBridge Capital and Accel, among other investors. This brings Rapido’s total raised capital to $730 million through primary and secondary financing, with the company now valued at $3 billion on a post-money basis. The funding will be directed toward expanding demand by creating new markets and deepening existing ones, while also growing the captain network and scaling earning opportunities. Aravind Sanka, Co-founder of Rapido, emphasized the strategic focus of the investment, stating, “This transaction is about accelerating our ability to unlock both these structurally. We are going deeper into markets where demand exists, but supply remains fragmented, building the density that gives captains reliable, predictable earnings.” Founded in 2015, Rapido has positioned itself as a key player in India’s evolving transportation landscape. The company’s recent strategy highlights a sharpened focus on strengthening supply chains, advancing technology, and expanding its multi-modal footprint with greater speed and intent. According to Rapido, the capital will be deployed to enhance first and last-mile connectivity, improve platform efficiency for a seamless user experience, and invest in talent to support long-term scalability. The funding announcement coincides with a critical phase in India’s economic growth, as the country’s development shifts beyond metropolitan areas.#india #rapido #prosus #westbridge_capital #accel
