SACRAMENTO, Calif., April 12, 2025 (GLOBE NEWSWIRE) — 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 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 funding will accelerate Volektra’s expansion across automotive, micromobility, industrial, and defense markets. The company is actively engaged in proof-of-concept programs with major global automotive OEMs while also deploying its technology through its own micromobility systems.
Chakra Growth Capital’s Sri Purisai (Managing Director) commented: “At Chakra Growth Capital, we invest in transformative technologies that drive efficiency, sustainability, and long-term impact. Volektra’s Virtual Magnet motor technology is a game-changer—eliminating reliance on rare-earth materials while delivering superior performance and cost advantages. As industries rapidly electrify assets, 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 create 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 supply chain risks, environmental damage, and cost volatility associated with traditional designs.
This cutting-edge technology is the result 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 embedded algorithms and firmware to mechanical design and power electronics—has been designed and developed in-house at Volektra’s engineering centers in Sacramento and Krakow.
Devendra Gupta, CEO and Co-Founder, Ecozen Solutions Pvt. Ltd., said, “At Ecozen, we believe in creating solutions that don’t just push boundaries but redefine them—whether it’s in climate-smart cooling, sustainable energy, or intelligent power management. Volektra’s Virtual Magnet motor is a game-changer, breaking free from rare earth dependency while delivering unmatched performance and scalability. This aligns perfectly with our mission of driving innovation that empowers 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.”
Manish Seth, CEO & Founder of Volektra, stated: “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 without compromise. Rare earth minerals should be reserved for applications that truly require 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 reliant on electrification.”
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 rare earth 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 reshaping how the world moves—cleaner, smarter, and freer from critical material bottlenecks.
Media details:
Name: M. Kaczor
Email: [email protected]
Website: https://www.volektra.com/
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