# CorePower Magnetics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/corepower-magnetics

- Industry: Electronics
- Headquarters: Pittsburgh, US
- Website: www.corepowermagnetics.com
- Total disclosed funding: $0.5M
- Latest round: Seed (Feb 10, 2022)
- Investors on record: 1

## About

Based in Pennsylvania, US, and founded in 2020, CorePower Magnetics, Inc. operates as a provider of soft magnetic solutions for electric vehicles and the power grid. The soft magnetic solution technology was invented at Carnegie Mellon University and the National Energy Technology Laboratory. In September 2026, CorePower Magnetics, Inc. raised USD 10.6 million in venture funding co-led by Engine Ventures and Material Impact Fund. The company plans to utilize September 2026 funding to expand manufacturing capacity, hire staff, and increase production of its magnetic components. The company provides power electronics components such as inductors, motors, and transformers, that contains proprietary magnetic cores, intended to function with greater temperature stability in compact, lighter packaging. These components support the electrification of transportation, enhanced energy efficiency, and grid modernization while reducing weight, volume, and losses by up to 10 times, 5 times, and 50%, respectively without the need for rare earth metals.

## Funding rounds

- Seed, Feb 10, 2022, $0.5M — Innovation Works

## Investors

- Innovation Works (https://capitalatlas.ai/funds/innovation-works) — Seed