# Niron Magnetics

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

- Industry: Materials
- Headquarters: Minneapolis, US
- Website: www.nironmagnetics.com
- Total disclosed funding: $93M
- Latest round: Series D (Nov 8, 2023)
- Investors on record: 6

## 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.

## Funding rounds

- Series D, Nov 8, 2023, $86M — University of Minnesota, General Motors Ventures, Stellantis Ventures, Shakopee Mdewakanton Sioux Community
- Series B, Dec 14, 2016, $5M — Anzu Partners
- Series A, Dec 1, 2014, $1.4M — Artiman Ventures

## Investors

- Artiman Ventures (https://capitalatlas.ai/funds/artiman-ventures) — Series A
- Anzu Partners (https://capitalatlas.ai/funds/anzu-partners) — Series B
- University of Minnesota — Series D
- General Motors Ventures (https://capitalatlas.ai/funds/general-motors-ventures) — Series D
- Stellantis Ventures (https://capitalatlas.ai/funds/stellantis-ventures) — Series D
- Shakopee Mdewakanton Sioux Community — Series D