# Spindrive

**Source:** https://www.startuphub.ai/startups/spindrive
**Profile type:** Startup

> Develops and manufactures active magnetic bearing systems for industrial machinery to improve energy efficiency.

## About

SpinDrive is a Finnish company that designs, prototypes, and serial produces active magnetic bearing (AMB) systems. Their technology uses magnetic levitation to eliminate friction in rotating machinery, leading to significant improvements in energy efficiency, reduced maintenance costs, and a longer operational lifespan. SpinDrive's solutions are targeted at original equipment manufacturers (OEMs) in various industrial sectors.

## Key facts

- **Slug:** spindrive
- **Website:** https://spindrive.fi/
- **Location:** Lappeenranta, Finland
- **Founded:** 2015-01-01
- **Operating status:** Active
- **Total funding:** $12M
- **Sectors / tags:** Industrial Automation, Energy Efficiency, Cleantech, Hardware, Manufacturing, Sustainability, Active Magnetic Bearings, Frictionless Technology

## Frequently asked

### What does Spindrive do?

SpinDrive is a Finnish company that designs, prototypes, and serial produces active magnetic bearing (AMB) systems. Their technology uses magnetic levitation to eliminate friction in rotating machinery, leading to significant improvements in energy efficiency, reduced maintenance costs, and a longer operational lifespan. SpinDrive's solutions are targeted at original equipment manufacturers (OEMs) in various industrial sectors.

### What is Spindrive's revenue?

StartupHub estimates Spindrive's annual revenue at $1.2M (range $575K to $9.1M, 29% confidence), based on comparable companies in the sector.

### What is Spindrive's valuation?

StartupHub estimates Spindrive's effective valuation at $46.5M (range $29.2M to $70.1M, 19% confidence), based on comparable companies in the sector.

### How much funding has Spindrive raised?

Spindrive has raised a total of $12M in funding. The most recent round on record is Seed.

### Where is Spindrive headquartered?

Spindrive is headquartered in Lappeenranta, Finland.

### When was Spindrive founded?

Spindrive was founded in 2015.

### What industry does Spindrive operate in?

Spindrive operates in Industrial Automation, Energy Efficiency, Cleantech, Hardware, Manufacturing, Sustainability.

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