Noveon Magnetics
Produces sintered NdFeB rare earth magnets in Texas, largely from recycled feedstock, for defense platforms, automotive and industrial motors; formerly Urban Mining Company.
Stryker Dragoon at sunset, Malacky Air Base, Slovakia. Photo: U.S. Army photo by Maj. John Ambelang, Public domain (PD-USGov-Military-Army).
Funding history
| Date | Round | Amount |
|---|---|---|
| Jan 2026 | Series C | $215M |
Why it matters
Series C to expand US output beyond 2,000 tons per year; says it is the only operational US maker of sintered NdFeB magnets; supply agreements with GM and ABB.
Is Noveon Magnetics publicly traded?
Noveon Magnetics is privately held as of November 14, 2026: there is no ticker and no announced IPO. Shares are not available on public exchanges.
Information only, not investment advice.
Some figures rest on a single report. Treat them as indicative.Last verified November 14, 2026
Noveon Magnetics: key questions
What does Noveon Magnetics do?
Produces sintered NdFeB rare earth magnets in Texas, largely from recycled feedstock, for defense platforms, automotive and industrial motors; formerly Urban Mining Company.
Where is Noveon Magnetics based?
Noveon Magnetics is headquartered in San Marcos, Texas. It was founded in 2014.
How much funding has Noveon Magnetics raised?
A cumulative total is not disclosed. The latest round was: Series C, $215M, Jan 2026.
Who are Noveon Magnetics' investors?
Notable investors include One Investment Management.
Is Noveon Magnetics publicly traded?
Noveon Magnetics is privately held as of November 14, 2026: there is no ticker and no announced IPO. Shares are not available on public exchanges.
Can you buy Noveon Magnetics stock?
Not on a public exchange: Noveon Magnetics is a private company. Shares of private companies change hands only in private transactions open to accredited investors, when the company allows it. This is not investment advice.
Sources
- noveon.co/noveon-completes-series-c
- pulse2.com/noveon-magnetics-215-million-series-c-funding/
- craft.co/noveon-magnetics
Figures come from company announcements, government sources and press reports. Spot an error? Send a correction. Nothing here is investment advice.
Similar companies
More advanced materials companiesCambium
El Segundo, CaliforniaDevelops high-temperature resins, carbon-carbon thermal protection and composite materials for hypersonic glide bodies, rocket motors and aircraft.
INTALUS
West Lafayette, IndianaInfuses ceramics such as nitrides, carbides and borides into metal surfaces to make components for hypersonic missiles, turbines, rocket nozzles and submarines.
Niron Magnetics
Minneapolis, MinnesotaMakes rare-earth-free iron nitride permanent magnets from domestic iron and nitrogen for defense, aerospace, robotics and electrification.