Exclusive: Finnish startup raises €25M to put a ‘Donut’ motor in EV wheels

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