Overview
Magnax, a Kortrijk-based deeptech firm, has raised €35.5 million in a two-stage investment led by Pan-International Industrial Corp., part of the Foxconn group. The funding will be used to industrialize Magnax's axial flux motor portfolio, which offers higher power density and efficiency for applications in electric vehicles, robotics, and aerospace. Following regulatory approval, Pan-International will become the largest shareholder, enhancing production capabilities in China while maintaining R&D in Belgium.
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Investors: Pan-International Industrial Corp.
Magnax, a Kortrijk-based deeptech firm, has raised €35.5 million in a two-stage investment led by Pan-International Industrial Corp., part of the Foxconn group. The funding will be used to industrialize Magnax's axial flux motor portfolio, which offers higher power density and efficiency for applications in electric vehicles, robotics, and aerospace. Following regulatory approval, Pan-International will become the largest shareholder, enhancing production capabilities in China while maintaining R&D in Belgium.