✉news BusinessStartups first seen 3 h ago, last 32 min ago, peak #15
Pentagon Backs $134 Million Raise for Rare-Earth Magnet Iron Startup
Original: Exclusive | Pentagon Joins $134 Million Raise for Startup to Make U.S. Iron for Rare-Earth Magnets
The Pentagon has joined a $134 million funding round for a startup aiming to produce iron in the United States for rare-earth magnets, according to the Wall Street Journal. The investment signals Washington's push to build a domestic supply chain for magnet materials, a sector currently dominated by China and considered critical for defense and technology manufacturing.
Why now: Concerns over US reliance on China for rare-earth materials are driving defense investment in domestic supply chains.
PentagonWall Street Journalrare-earth magnets
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- Exclusive | Pentagon Joins $134 Million Raise for Startup to Make U.S. Iron for Rare-Earth Magnets · WSJ
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