Supplier · United States
Niron Magnetics
HQ MinneapolisFounded 2015
Developer and manufacturer of rare-earth-free permanent magnets using iron nitride technology.
Funding9 rounds · $185M
- Equity raised
- $185M
- Debt, secondaries & grants
- $150M
- Latest
- UndisclosedStrategic · Sep 9, 2026
| Announced | Stage | Amount | Valuation | Lead investors | Other investors | Confidence |
|---|---|---|---|---|---|---|
| Sep 9, 2026 | Strategic | Undisclosed | — | Honda Motor Co., Ltd. | — | Confirmed |
| Aug 18, 2026 | Debt | $150M | — | Shakopee Mdewakanton Sioux Community | — | Confirmed |
| Feb 20, 2024 | Strategic | $25.0M | — | Samsung Ventures | Allison Transmission, Magna International, Shakopee Mdewakanton Sioux Community, University of Minnesota | Confirmed |
| Dec 20, 2023 | Undisclosed | $90.6M | — | — | — | Confirmed |
| Nov 8, 2023 | Strategic | $33.0M | — | — | GM Ventures, Shakopee Mdewakanton Sioux Community, Stellantis Ventures, University of Minnesota | Confirmed |
| Jul 29, 2021 | Undisclosed | $21.3M | — | — | — | Reported |
| Sep 3, 2019 | Undisclosed | $3.9M | — | — | — | Confirmed |
| Dec 14, 2016 | Undisclosed | $5.0M | — | — | — | Confirmed |
| Jun 8, 2016 | Undisclosed | $6.4M | — | — | — | Confirmed |
- UndisclosedSep 9, 2026
- $150MAug 18, 2026
- StrategicLed by Samsung VenturesWith Allison Transmission, Magna International, Shakopee Mdewakanton Sioux Community, University of MinnesotaConfirmed$25.0MFeb 20, 2024
- UndisclosedConfirmed$90.6MDec 20, 2023
- StrategicWith GM Ventures, Shakopee Mdewakanton Sioux Community, Stellantis Ventures, University of MinnesotaConfirmed$33.0MNov 8, 2023
- Undisclosed$21.3MJul 29, 2021
- UndisclosedConfirmed$3.9MSep 3, 2019
- UndisclosedConfirmed$5.0MDec 14, 2016
- UndisclosedConfirmed$6.4MJun 8, 2016
Raised counts equity rounds; debt, secondary sales and grants are totaled separately. Amounts in other currencies are converted at the announcement month's average rate. A ~ marks an estimated or converted amount.
Capabilities1
| Technology | Role | Maturity | TRL | Notes | Confidence |
|---|---|---|---|---|---|
| Materials with novel, tailored, and improved properties, including biomaterials and substitution of rare-earth or critical minerals-based alloys with earth-abundant minerals | Developer | — | — | Company-reported capability; mapping does not establish government endorsement, supplier qualification or a contract. | Reported |
- DeveloperCompany-reported capability; mapping does not establish government endorsement, supplier qualification or a contract.—Reported
Maturity and TRL describe this organization's work; the field-wide maturity is on each technology's page.
Sources13
Show all 13 sources and supporting evidence
Profile2
- 1Government recordOffice of Strategic Capital Signs $150 Million Conditional Loan Commitment With Niron Magnetics, Inc. to Scale Domestic Rare Earth-Free Magnet Production
U.S. Department of War · Aug 7, 2026 · Supports Organization
“Office of Strategic Capital Signs $150 Million Conditional Loan Commitment With Niron Magnetics, Inc.”
- 2CompanyNiron Magnetics, Inc.
Supports Organization · country, Organization · founded year, Organization · hq city
“**Address:** 650 NE Taft St., Minneapolis, Minnesota 55413, US **Founded:** 2015”
Technologies1
- 3CompanyHome - Niron Magnetics
Supports Organization · description, Organization · website, Organization technology
“Niron Magnetics has developed a rare-earth-free permanent magnet made with Iron Nitride.”
Funding10
- 4
PR Newswire · Sep 9, 2026 · Supports Funding round, Organization · ownership
“today announced an investment from Honda Motor Co., Ltd.”
- 5
PR Newswire · Aug 18, 2026 · Supports Funding round · amount
“announced a $150 million loan from the Shakopee Mdewakanton Sioux Community”
- 6Regulatory filingNiron Magnetics, Inc. - SEC Form D/A (0001677594-24-000002)
U.S. Securities and Exchange Commission · Mar 29, 2024 · Supports Funding round · amount
“Total Amount Sold $90,624,480 USD”
- 7
Niron Magnetics · Feb 20, 2024 · Supports Funding round · amount
“today announced it has received $25 million in new strategic funding”
- 8
Minneapolis / St. Paul Business Journal · Jan 9, 2024 · Supports Funding round · amount
“Niron Magnetics Inc. has raised over $86 million to commercialize its rare-earth-free magnet for use in electric vehicle motors.”
- 9
Niron Magnetics · Nov 8, 2023 · Supports Funding round · amount
“today announced it has raised $33 million in additional funding”
- 10
Minneapolis / St. Paul Business Journal · Jul 29, 2021 · Supports Funding round · amount
“Niron Magnetics raises $21.3M in quest to commercialize rare earth free magnets”
- 11Regulatory filingNiron Magnetics, Inc. - SEC Form D (0001677594-19-000003)
U.S. Securities and Exchange Commission · Sep 9, 2019 · Supports Funding round · amount
“Total Amount Sold $3,946,694 USD”
- 12Regulatory filingNiron Magnetics, Inc. - SEC Form D (0001677594-16-000002)
U.S. Securities and Exchange Commission · Dec 28, 2016 · Supports Funding round · amount
“Total Amount Sold $5,000,000 USD”
- 13Regulatory filingNiron Magnetics, Inc. - SEC Form D (0001677594-16-000001)
U.S. Securities and Exchange Commission · Jun 21, 2016 · Supports Funding round · amount
“Total Amount Sold $6,399,999 USD”
Each fact on this page is attached to the sources that support it. Archived copies are linked when we keep one.