Niron Magnetics: Funding, Investors & Team (Oct 2026)
Niron develops innovative advanced magnetic materials for high performance and low-cost permanent magnets. Permanent magnets play a vital, hidden role in modern technologies. Common devices that we use daily, such as computers, appliances, and automobiles are powered by permanent-magnet motors that convert electricity to motion. In the production of electricity, permanent magnets are found at the heart of generators. Despite their ubiquity, however, magnets themselves have not kept pace with demands of higher performance, lighter weight machines. In fact, it has been almost 25 years since the last new magnetic material (NdFeB) became commercially available. As hybrid and electric vehicles fill the streets, and wind power generation continues to be one of the fastest growing means of producing electricity, the demand for increased efficiency needs to be met with innovative new magnetic materials. Niron Magnetics is developing the world’s first advanced manufacturing process for the mass production of permanent magnets powered by our breakthrough material formulation. Niron’s proprietary Iron nitride magnets possess inherently higher magnetization and can be produced at a lower cost compared to today’s rare-earth magnets, and will enable a revolution in the design of new electric motors and generators. Niron was founded in 2014 as a spinout of University of Minnesota and is based on technology that has received the support of ARPA-E, the National Science Foundation (NSF), and the Department of Energy Office of Basic Energy Sciences.
Niron Magnetics has raised $138M across 6 funding rounds on record, the most recent an undisclosed round of $10.0M announced in Oct 2025.
That round is below the $15M median round size for Energy companies tracked on FundedIQ over the last two years.
Niron Magnetics Company Profile and Key Stats
Latest funding round on record: Oct 2025.
Niron Magnetics Funding Rounds
Niron Magnetics raised $100k in an undisclosed round announced in Feb 2022.
9 months later, an undisclosed round of $17.5M was announced in Nov 2022.
1 years later, an undisclosed round of $33.0M was announced in Nov 2023.
3 months later, an undisclosed round of $25.0M was announced in Feb 2024.
11 months later, an undisclosed round of $52.0M was announced in Jan 2025.
9 months later, an undisclosed round of $10.0M was announced in Oct 2025.
Niron Magnetics Founders and Leadership Team
Contact details for the Niron Magnetics team: 1 of 2 have an email address on file.
Start 14-day free trial →Niron Magnetics Funding Compared to Other Energy Startups
Niron Magnetics' latest round of $10.0M is below the median round in Energy. Medians cover the last 24 months of disclosed rounds.
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Niron Magnetics Funding FAQs
What does Niron Magnetics do?
Niron develops innovative advanced magnetic materials for high performance and low-cost permanent magnets. Permanent magnets play a vital, hidden role in modern technologies. Common devices that we use daily, such as computers, appliances, and automobiles are powered by permanent-magnet motors that convert electricity to motion. In the production of electricity, permanent magnets are found at the heart of generators. Despite their ubiquity, however, magnets themselves have not kept pace with demands of higher performance, lighter weight machines. In fact, it has been almost 25 years since the last new magnetic material (NdFeB) became commercially available. As hybrid and electric vehicles fill the streets, and wind power generation continues to be one of the fastest growing means of producing electricity, the demand for increased efficiency needs to be met with innovative new magnetic materials. Niron Magnetics is developing the world’s first advanced manufacturing process for the mass production of permanent magnets powered by our breakthrough material formulation. Niron’s proprietary Iron nitride magnets possess inherently higher magnetization and can be produced at a lower cost compared to today’s rare-earth magnets, and will enable a revolution in the design of new electric motors and generators. Niron was founded in 2014 as a spinout of University of Minnesota and is based on technology that has received the support of ARPA-E, the National Science Foundation (NSF), and the Department of Energy Office of Basic Energy Sciences.
How much funding has Niron Magnetics raised?
Niron Magnetics has raised $138M across 6 rounds on record. The most recent is an undisclosed round of $10.0M announced in Oct 2025.
When did Niron Magnetics last raise funding?
Niron Magnetics' most recent funding round on record is an undisclosed round of $10.0M, announced in Oct 2025.
Who founded Niron Magnetics?
FundedIQ lists Jian Ping Wang (Founder) at Niron Magnetics.
Who is the CEO of Niron Magnetics?
Andy Blackburn is listed as CEO at Niron Magnetics.
Where is Niron Magnetics headquartered?
Niron Magnetics is based in Minneapolis, Minnesota, United States.
How many employees does Niron Magnetics have?
Niron Magnetics is in the 11-50 employee band.
How does Niron Magnetics' funding compare to other Energy startups?
Niron Magnetics' latest round of $10.0M is below the $15M median round size for Energy companies on FundedIQ across 2,284 tracked companies over the last two years.
About FundedIQ's Niron Magnetics Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for Niron Magnetics is left off this page rather than filled in.
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