SpinDrive provides design, prototyping and serial production of active magnetic bearings (AMBs) for Original Equipment Manufacturers (OEM). SpinDrive reduces energy losses in the machine by half. For a 500-kW unit, this solution mitigates 200 tons of CO2 emissions annually, which is equivalent to 2,000 barrels of oil burnt and enables 2-year payback time. An active magnetic bearing levitates the rotational part of the machine, eliminating mechanical friction. It enables 20 years of maintenance-free operations. SpinDrive solution is completely oil-free, which allows OEM customers to enter rapidly growing markets and ensure alignment with a contaminant-free environmental strategy. We help customers to significantly increase their solutions’ system efficiency, reduce material consumption and minimize maintenance costs. SpinDrive lowers the customer’s equipment lifecycle costs by 35%.
Location: Finland, Mainland Finland, Lappeenranta
Employees: 11-50
Total raised: $4.06M
Founded date: 2015
Investors 5
| Date | Name | Website |
| 31.10.2021 | Innovestor | innovestor... |
| 30.11.2023 | Rhapsody V... | rhapsodyvp... |
| - | MassChalle... | masschalle... |
| - | Creative D... | creativede... |
| - | D11Z.Ventu... | d11z.com |
Funding Rounds 1
| Date | Series | Amount | Investors |
| 09.11.2023 | Series A | $4.06M | - |
Mentions in press and media 11
| Date | Title | Description |
| 01.03.2024 | EIC Accelerator invests €285M in deeptech startups — several are from CEE | EIC Accelerator invests €285M in deeptech startups — several are from CEE 01 March, 2024, 09:22 Mariia Denysiuk --> --> --> -->--> --> --> --> --> --> --> --> --> European Innovation Council has sel... |
| 09.11.2023 | SpinDrive Raises €3.8M in Series A Funding | SpinDrive, a Lappeenrata, Finland-based cleantech company providing active magnetic bearings for original equipment manufacturers (OEMs), raised €3.8M in Series A funding. The round, which brought the total amount to €8M to date, was led by... |
| 09.11.2023 | Finnish startup SpinDrive raises €3.8M Series A for affordable, energy-efficient industrial bearings | This week, SpinDrive, a Finnish company providing affordable active magnetic bearings for original equipment manufacturers (OEMs), has secured a €3.8 million Series A funding round. SpinDrive’s frictionless bearings are smaller, more energy... |
| 08.11.2023 | Finland’s SpinDrive raises €3.8M from Rhapsody Venture Partners, others | Read this article in: Lappeenranta, Finland-based SpinDrive, a company specialised in active magnetic bearings (AMBs), announced on Wednesday that it has secured €3.8M in a Series A round of funding. The round was led by US-based Rhapsody V... |
| 08.11.2023 | Finnish cleantech SpinDrive raises €3.8 million to cut industrial energy waste with magnetic levitation bearings | - |
| 08.11.2023 | Finnish cleantech SpinDrive raises €3.8M to cut down on industrial energy waste | Finnish cleantech SpinDrive raises €3.8M to cut down on industrial energy waste 08 November, 2023, 16:17 Rostyslav Sobachynskyi --> --> --> -->--> --> --> --> --> --> --> --> --> SpinDrive, a Finlan... |
| 08.11.2023 | Finnish cleantech company SpinDrive raises €3.8M to cut industrial energy waste and pollution with magnetic levitation bearings | Finnish cleantech company SpinDrive raises €3.8M to cut industrial energy waste and pollution with magnetic levitation bearings Wed, Nov 08, 2023 10:00 CET Report this content SpinDrive will use the funds to boost its global growth, helping... |
| 20.09.2023 | Join climatetech changemakers as they pitch for green deals | Anticipation is growing as one of the UK’s largest investor events for climatetech innovation nears, with Cleantech Venture Day taking place on the 10th and 11th of October. Green solutions include an on-demand clothing manufacturing techno... |
| 13.10.2021 | Meet the companies with game-changing solutions to address the climate emergency For more information contact: | Meet the companies with game-changing solutions to address the climate emergency 13-10-2021 Cambridge Cleantech is delighted to announce the final shortlist for its high-profile investment event Cleantech Venture Day, which will take place ... |
| 16.05.2019 | MassChallenge Switzerland Announces its 4th Startup Cohort | May 15, 2019 Renens – MassChallenge Switzerland, part of MassChallenge’s global network of zero-equity startup accelerators, today announced the 76 early-stage, high-impact startups accepted into its 2019 accelerator. These startups repres... |
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