What is Magnax?
Headquartered in Kortrijk, Belgium, Magnax is at the forefront of the electric motor revolution. The company specializes in the design and development of high-power-density axial flux motors, which offer superior efficiency and compact form factors compared to traditional radial flux alternatives. By leveraging a modular and scalable design, Magnax provides critical hardware solutions for manufacturers in the automotive and aerospace industries. Their technology serves as a foundational component for next-generation electric vehicles, enabling OEMs to achieve higher performance metrics while reducing overall system weight and complexity. Through strategic partnerships, Magnax continues to integrate its motor technology into diverse industrial applications, solidifying its role as a key enabler of the global transition toward sustainable electrification.
How much funding has Magnax raised?
Magnax has raised a total of $39.7M across 2 funding rounds:
Series A
$19.7M
Unspecified
$20M
Series A (2021): $19.7M with participation from Vlerick Group, Torus Capital, and Hirschvogel Automotive Group
Unspecified (2022): $20M led by SFPIM and BIG Capital
Key Investors in Magnax
Vlerick Group
A diversified investment firm with a focus on long-term value creation and supporting industrial innovation within the Belgian and European markets.
Torus Capital
A venture-focused investment entity that provides strategic backing to high-growth technology companies seeking to disrupt traditional industrial sectors.
Hirschvogel Automotive Group
A global leader in automotive component manufacturing that invests in advanced engineering solutions to drive the future of mobility.
What's next for Magnax?
With the infusion of this recent capital, Magnax is expected to scale its manufacturing capabilities and deepen its R&D efforts to meet the rigorous demands of the aerospace and heavy-duty eMobility markets. The company's roadmap likely involves expanding its production capacity to support high-volume commercial contracts and further refining its axial flux technology to maintain a competitive edge in power density. As the demand for high-efficiency electric propulsion systems continues to surge, Magnax is strategically positioned to capitalize on the shift toward electrification, potentially exploring new market verticals where weight-to-power ratios are critical. Investors will be monitoring the company's ability to translate its technological superiority into sustained market share and operational excellence in the coming fiscal periods.
See full Magnax company page
