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Niron Magnetics
AddedFeb 15, 2024
UpdatedJun 18, 2026
Niron Magnetics

Niron Magnetics

Series C

Niron: Innovating high-performance, low-cost permanent magnets through advanced material development.

HQ
Minneapolis, MN, US
Founded
2014
Overview
Compare
Fundraising
Employees
Website

Niron Magnetics, founded with a mission to revolutionize the magnet industry, focuses on developing advanced magnetic materials for high-performance, low-cost permanent magnets. Their flagship product, the Clean Earth Magnet®, is designed to meet the growing demand for rare earth-free magnets, addressing both performance and environmental concerns. Niron's innovative approach targets various markets, including automotive and renewable energy sectors, aiming to provide sustainable and efficient magnetic solutions.

Notable investors in Niron Magnetics include GM Ventures, Stellantis Ventures, Shakopee Mdewakanton Sioux Community, and the University of Minnesota. The company has secured $33 million in funding to accelerate the commercialization of its technology. Among its key achievements, Niron’s Clean Earth Magnet® was named to TIME’s list of the Best Inventions, highlighting its potential global impact. Through these advancements, Niron Magnetics is poised to significantly influence the future of sustainable magnet technology.

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Niron Magnetics - Quick Facts

Who are Niron Magnetics' competitors?

Companies similar to Niron Magnetics include CorePower Magnetics, Correlated Magnetics Research, Advanced Magnet Lab and Magnum Magnetics.

When was Niron Magnetics founded?

Niron Magnetics was founded in 2014.

Where is Niron Magnetics' headquarters located?

Niron Magnetics' headquarters is located in Minneapolis, MN, US.

When was Niron Magnetics' last funding round?

Niron Magnetics' most recent funding round was for $33M (USD) in November 2023.

How much has Niron Magnetics raised to-date?

As of Nov 8, 2023, Niron Magnetics has raised a total of $84.6M (USD).

How many employees does Niron Magnetics have?

Niron Magnetics has 61 employees as of Feb 5, 2024.

Niron Magnetics - Classification

Industry
  • Hardware
Ownership
  • Venture Capital
Technology
  • Materials Science
Geographic Exposure
  • Global
Revenue
  • Transactional
Customer
  • Enterprise
Main Product
  • Magnets
Tags
  • Cleantech
NAICS
  • 330000Manufacturing
SIC
  • 3900Miscellaneous Manufacturing Industries