Finnish startup SpinDrive raises €3.8M Series A for affordable, energy-efficient industrial bearings
SpinDrive, a Finnish company providing affordable active magnetic bearings for original equipment manufacturers (OEMs), has secured a €3.8 million Series A funding round. The round was led by US-based, hardware companies-focused investor Rhapsody Venture Partners, with existing investors Innovestor from Finland and Born2Grow from Germany also participating.
SpinDrive’s frictionless bearings are smaller, more energy efficient, and more affordable than its competitors. The bearings work through magnetic levitation, where there is no contact between rotating and stationary parts. No friction means no bearing maintenance for up to 20 years, even in high-speed applications, meaning high rotational speeds and energy efficiency without the risk of equipment downtime or maintenance breaks.