Helsinki-based Donut Lab secured €25 million in Seed funding. This significant investment supports its advanced EV development platform. The company provides essential components for electric vehicles.
Donut Lab's electric vehicle platform offers inter-compatible components. These include battery modules, computer units, and vehicle control software. The Donut Motor, an in-wheel motor, eliminates traditional drivetrain needs. This technology serves land, sea, and air vehicles.
The company targets automotive, aerospace, robotics, marine, and defense sectors.
Accelerating EV Platform Innovation
Donut Lab recently launched its five-motor lineup. This led to a 30-fold increase in demand for its technologies. Furthermore, the company signed over ten commercial contracts with OEMs for full stack EV integration through adopting Donut Lab motor and platform technologies.
Donut Lab also expanded its international engineering and commercial teams. New appointments include Neil Patterson, Vice President of Engineering Programmes, and Craig Williams, Vice President of Business Development. An R&D facility opened in Chippenham, UK. This facility collaborates with teams in Helsinki and Tallinn.
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Serial tech investor Risto Siilasmaa joined Donut Lab's Board of Directors. He previously chaired Nokia and founded successful cybersecurity firms. This strategic addition strengthens the e-mobility tech innovator's leadership.
Key Competitors
Donut Lab operates in a competitive landscape alongside companies like REE Automotive, which develops modular EV platforms, and Arrival, known for its electric vehicle platforms for commercial applications.
