Helsinki-based e-mobility Startup Donut Lab Secures €25M In Seed Round

Alongside the funding, Donut Lab announced that renowned tech investor Risto Siilasmaa has joined its Board of Directors. Siilasmaa is best known for his role as former Chairman of Nokia and as the founder of cybersecurity companies WithSecure and F-Secure.

Marko Lehtimaki, CEO, said: “The continued growth in demand, international expansion and interest in our business – from customers, investors and new recruits alike – demonstrates to us Founders what we have always believed, that our tech solution is truly groundbreaking. The performance, robustness, versatility and relative low cost of entry of our products really is a winning formula. I cannot wait to showcase the latest applications and introduce new business divisions and partners of our growing group in the coming weeks and months.”

Founded in 2024, Donut Lab provides a full suite of modular components to simplify and speed up electric vehicle (EV) development. Its Donut Platform includes batteries, computer units, and control software—designed for quick, cost-efficient EV production.

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At its core is the Donut Motor, the world’s first in-wheel motor combining high torque and lightweight design, removing the need for traditional drivetrain systems. It’s built for versatility, supporting land, sea, and air mobility—from scooters and drones to trucks and marine vehicles.

Following a successful CES 2025 launch, Donut Lab saw a 30x surge in demand and secured over 10 commercial contracts with OEMs across multiple industries. It is expanding internationally, with key hires like Neil Patterson (ex-McLaren, Aston Martin) and Craig Williams (ex-BMW, Rivian), and a new R&D hub in Chippenham, UK.

In 2025, the company plans to showcase new tech, live demos, and partnerships across the EV landscape.

About Donut Lab

A universal EV development platform delivering exceptional performance across all vehicle types—from SUVs to drones. Designed for versatility, it supports fast, cost-efficient production while maintaining high power, efficiency, and adaptability for land, air, and sea mobility. Ideal for manufacturers seeking scalable, next-gen electric vehicle solutions.