SpinDrive raises funding to scale magnetic bearing tech for cleaner industry

SpinDrive, a Finland-based provider of active magnetic bearing (AMB) systems, has secured new growth funding led by long-time investors Rhapsody Venture Partners and Innovestor.

Founded in 2015, SpinDrive commercialises magnetic-levitation solutions for high-speed machinery. The company’s vision is to lead in advanced magnetic-bearing systems with IoT-based condition monitoring, improving efficiency and lowering costs and maintenance in industrial applications.

Traditional industrial bearings rely on oil lubrication and physical contact between moving parts, creating friction, energy losses, wear, and frequent maintenance. Because bearings are widely used in rotating machinery (such as compressors, pumps, turbines, and blowers), these inefficiencies add up to substantial energy consumption and reduce electric-motor efficiency.

SpinDrive addresses this with active magnetic bearing technology that levitates the rotor, eliminating physical contact and friction. The result is maintenance-free operation for over 20 years, no need for oil-based lubricants, and meaningful energy-efficiency gains. Compared with traditional ball bearings that often require replacement every 12–18 months in high-speed applications, SpinDrive’s systems include integrated condition monitoring without external sensors and can reduce overall equipment maintenance costs by more than 80 per cent.

SpinDrive reports increasing US traction through both direct customers and European OEM partners with US operations. Its systems are being adopted in industrial cooling, heat pumps, wastewater treatment, and semiconductor manufacturing, where energy efficiency and reliability are critical.

The upcoming Magma X100 extends SpinDrive’s AMB technology to ultra-high-speed machinery under 100 kW, broadening access to AMB benefits in new markets and applications. Developed with support from the European Commission, it is the company’s smallest, most affordable, and most efficient system to date, and has received commercial orders ahead of launch.

Janne Heikkinen, CEO of SpinDrive, said:

Magma X100 brings the benefits of AMBs to applications for which there has been no technical solution to date. Our new product is small in form factor and a fraction of the cost of existing AMB systems. We believe the benefits of AMBs will revolutionise a broad new set of appliances and machinery.

The funding will support SpinDrive’s expanding US customer base, strengthen its market presence in the region, and enable the launch of the new Magma X100 magnetic bearing controller product line.