FUELING THE FUTURE: Lolli raises $5M | Niron Magnetics gets $21.3M | Michigan high-tech startups

  • MINNEAPOLIS, MN—Niron Magnetics, which develops permanent magnets free of rare earths, raised $21.3 million in funding. The company will use the funding to build its pilot production facility in Minnesota and accelerate the development of its Clean Earth Magnet™ technology.
  • ST. LOUIS, MO—Washington University in St. Louis received over $740,000 to develop an “auto destruction switch” for genetically engineered microorganisms and a system to ensure lab observations can match field predictions.
  • LANSING, MI—The Michigan Strategic Fund has approved a grant amendment of $6.5 million for Michigan State University Foundation to provide early-stage funding to help Michigan high-tech startups gain greater access to support for technologies to reach the commercial market.