Magnax secures major funding to scale axial flux motors
Belgian deep-tech startup Magnax has raised €35.5 million in fresh funding to industrialise its next-generation axial flux motor technology, with strategic backing from Taiwanese manufacturing giant Foxconn. The capital injection is set to accelerate the company’s transition from advanced prototyping to large-scale production for the rapidly growing electric vehicle (EV) and industrial electrification markets.
Industrialising axial flux technology
Axial flux motors are widely regarded as one of the most promising innovations in electric drive systems, offering higher power density, improved energy efficiency and more compact packaging compared to traditional radial flux motors. By placing the magnetic flux parallel to the axis of rotation, these motors can deliver more torque in a smaller footprint, a critical advantage for EVs, e-aviation and robotics.
Magnax aims to transform this high-performance concept into a robust, manufacturable platform. The new funding will be used to expand its engineering team, invest in automated production lines and validate its technology with leading OEMs in automotive, mobility and industrial sectors.
Foxconn’s strategic role in electrification
Backed by Foxconn, one of the world’s largest electronics manufacturers and an increasingly active player in the EV supply chain, Magnax gains not only capital but also access to large-scale manufacturing expertise and global market reach. Foxconn has been building a portfolio of technologies around its EV platform ambitions, and high-efficiency electric motor solutions are a crucial piece of that strategy.
The partnership is expected to help Magnax move from pilot production to industrial volumes, positioning the Belgian company as a key European supplier of advanced electric drivetrain components. As regulators tighten emissions standards and OEMs race to improve range and performance, demand for compact, efficient motors is projected to surge across mobility and industrial applications.
Strengthening Europe’s hardware innovation ecosystem
The €35.5 million round highlights growing investor confidence in European climate tech and hardware-intensive innovation, a space traditionally seen as capital-intensive and slower to scale. By combining European engineering with Asian manufacturing muscle, Magnax and Foxconn are positioning themselves at the heart of the global shift toward electrified, energy-efficient systems.