Helsinki-based e-mobility tech innovator Donut Lab raises €25 million in Seed funding round and appoints Risto Siilasmaa to the Board of Directors.
Donut Lab, founded in 2024, provides components for electric vehicles and aims to make manufacturing quick and economical.
Their Donut Motor is an in-wheel motor designed for land, sea, and air vehicles, with a 30-fold increase in demand after launching at CES 2025.
The company has signed over ten commercial contracts for EV integration and expanded its team with industry experts, with plans for a comprehensive business showcase next year.