$86 Million Is Raised By Niron Magnetics For Rare-Earth-Free Magnets.

Niron Magnetics Inc., a startup that’s developing magnets made without rare-earth materials, has raised over $86 million in funding, according to a securities filing.

The Minneapolis company disclosed the funding, which includes a mix of equity and $61.3 million of convertible securities, with the Securities and Exchange Commission in a Form D filing Jan. 3. Niron couldn’t immediately be reached for comment.

“Source: The Business Journals”