Tech Company Financing Transactions
Niron Magnetics Funding Round
On 2/20/2024, Niron Magnetics landed $25 million in funding from Samsung Ventures, Allison Transmission and Magna International.
Transaction Overview
Company Name
Announced On
2/20/2024
Transaction Type
Venture Equity
Amount
$25,000,000
Round
Undisclosed
Investors
Samsung Ventures (Lead Investor)
Allison Transmission (Mike Foster)
Magna International (Josh Berg)
Proceeds Purpose
This investment will strengthen Niron's ability to expand its production facilities and scale manufacturing capacity for exclusive customer programs and initial sales of the Clean Earth Magnet.
Company Information
Company Status
Private & Independent
Industry
Electronics
Mailing Address
650 Taft St. NE 400
Minneapolis, MN 55413
USA
Minneapolis, MN 55413
USA
Phone
Undisclosed
Website
Email Address
Overview
Niron Magnetics is developing the world's first advanced manufacturing process for the mass production of permanent magnets powered by its breakthrough material formulation.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Andrew Blackburn
Chief Operating Officer
John Larson
Chief Scientific Officer
Jian-Ping Wang
Chief Technical Officer
Frank Johnson
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