The paper presents the development of a very high speed (200 krpm, 2 kW) slotless permanent magnet motor, using an analytical model. The multiphysics analytical model allows a quick optimization process. The presented model includes the magnetic fields, the mechanical stresses in the rotor, the electromagnetic power losses, the windage power losses and the power losses in the bearings. The paper also presents the results of the measurements on a prototype that reached 200 krpm.