Founded in 2015, Finland-based SpinDrive provides frictionless, oil-free active magnetic bearing (AMB) systems that levitate rotors to eliminate mechanical contact. The technology delivers energy-efficiency improvements of up to 50 % versus conventional bearings and can reduce maintenance costs by more than 80 %, offering maintenance-free operation for over 20 years. SpinDrive’s products serve compressors, pumps, turbines, blowers and other high-speed machinery used in industrial cooling, heat pumps, wastewater treatment and semiconductor manufacturing. The company integrates IoT-based condition monitoring directly into its bearings, removing the need for external sensors. SpinDrive is gaining traction with both European OEM partners and direct customers in the United States. Its forthcoming Magma X100 controller extends AMB capabilities to ultra-high-speed machinery under 100 kW, targeting new markets with a smaller, more affordable form factor. The new funding will accelerate U.S. market expansion and support the commercial launch of Magma X100.

Total raised

$10M

Funding rounds

4

Latest round

Equity

Latest activity

Mar 2024