Finnish startup Donut Lab has secured €25mn in seed funding to scale up its in-wheel hub motors for electric land, sea, and air vehicles. Alongside the investment, Donut Lab is opening an R&D hub in Chippenham, UK. Risto Siilasmaa, serial tech investor and former Nokia chairman, has also joined the company’s board. Marko Lehtimaki, Donut Lab’s CEO and co-founder, said the investment signals a continued demand for the company’s technology. “It demonstrates to us [founders] what we have always believed, that our tech solution is truly groundbreaking,” he said. Donut’s flagship innovation is a hollow hub motor dubbed, you guessed…
This story continues at The Next Web
https://thenextweb.com/news/exclusive-finnish-startup-donut-raises-e25m-ev
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Jul 7, 2025, 11:20:06 PM
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