Niron Magnetics, Inc.
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Niron Magnetics, Inc. - overview
Established
2015
Location
Minneapolis, MN, US
Primary Industry
Materials
About
Based in Minnesota, US, and founded in 2015 by Jian-Ping Wang (CSO) Niron Magnetics, Inc. operates as a materials science company that develops and manufactures permanent magnets that are used on electric motors and generators. In February 2024, Niron Magnetics, Inc. raised USD 25 million in venture funding led by investor Samsung Venture Investment, with participation from other investors Allison Transmission Holdings, Inc.
and Magna. The firm, as of July 2024, is led by its CEO, Jonathan Rowntree. The company engages in the development of Clean Earth Magnets®, eliminating environmentally harmful rare earth mining. Clean Earth Magnets® is tailored for diverse applications, from automotive to renewable energy industries.
The company plans to utilize the July 2024 funding to support the expansion of its production facilities.
Current Investors
Anzu Partners, Artiman Ventures, Volvo Group Venture Capital
Primary Industry
Materials
Sub Industries
Advanced Materials, Nanomaterials
Website
www.nironmagnetics.com
Verticals
Nanotechnology
Company Stage
Series D
Total Amount Raised
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