Belgian startup Magnax raises €20m for axial flux “pancake” electric motors

Belgium-based Magnax, technology leader in axial flux electric motors, has closed a €20 million funding round and adds two new investors; BIG Capital, who led the round, and SFPIM.

With yokeless axial flux technology at its core, Magnax’s mission is to accelerate the innovation of EV powertrains and aerospace propulsion systems. The proceeds - which bring Magnax’s total capital raised to €36 million - will be used to accelerate product development, grow the engineering team, and expand support for customers and partners.

In the EV space, eMotor technology is also evolving rapidly. OEMs are recognizing the superior electric motor topology of axial flux (e.g. Mercedes acquisition of YASA Motors). Magnax’s patented single-stator, dual-rotor axial flux motor delivers the most effective and efficient motor topology known today.

Additional innovations such as direct cooling of the windings, high-speed rotors, and automated manufacturing result in an exceptional combination of high power density and a high degree of manufacturability. With up to a 4x increase in volumetric torque density versus traditional “radial flux” electric motors, automotive and airframe developers can use the compact and thin “pancake” shape of Magnax’s axial flux motors to their competitive advantage.

Armed with extraordinary test results, Magnax decided to valorize and commercialize their technology via two separate spin-off companies: Traxial, led by Marc Beulque and focused on ground eMobility, and Axyal which focuses on aerospace propulsion systems. With BIG Capital and SFPIM, Magnax has two new investors on board with a long-term vision on how valuable deep tech can help build a sustainable world.

www.magnax.com