# Niron Magnetics raises $33M from GM Ventures, Stellantis Ventures and others

Niron Magnetics secured $33 million in additional funding from GM Ventures, Stellantis Ventures, Shakopee Mdewakanton Sioux Community, University of Minnesota, and other investors to expand pilot production and scale manufacturing of rare earth-free Clean Earth Magnets.

- Type: Investment
- Announced: 2023-11-08
- Where: Minneapolis, Minnesota, United States
- Value: $33.0M
- Status: announced
- Products: rare earth-free permanent magnets (Clean Earth Magnets)
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Niron Magnetics](https://endata.com/companies/73674.md)
- [GM Ventures](https://endata.com/companies/73675.md) (investor)
- [Stellantis Ventures](https://endata.com/companies/73676.md) (investor)
- [Shakopee Mdewakanton Sioux Community](https://endata.com/companies/73677.md) (investor)
- [University of Minnesota](https://endata.com/companies/73678.md) (investor)

## Sources

- [nironmagnetics.com](https://nironmagnetics.com/niron-magnetics-secures-33m-from-leading-automotive-manufacturers-to-meet-growing-demand-for-rare-earth-free-magnets/), 2023-11-09: "Niron Magnetics today announced it has raised $33 million in additional funding, with new investments from leading automotive manufacturers, GM Ventures and Stellantis Ventures."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.