Seattle's TriMagnetix raises up to $1 million for low-power, radiation-resistant chips

Seattle-based TriMagnetix has raised up to $1 million to keep developing a semiconductor chip that, according to initial lab testing, consumes about 800 times less energy than a traditional chip to process the same amount of data, GeekWire reported on Thursday.

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The startup uses nanomagnetic technology that needs only electrical pulses rather than a constant power stream, cutting electricity use and heat. The design is also meant to resist radiation and to work with existing computing infrastructure, co-founder Lucas Hahn told GeekWire.

TriMagnetix is partnering with WaveWorks Technologies on its first paid pilot, has joined the Plug and Play Semiconductor Accelerator and was accepted into Nvidia's Inception program. Madison Hanberry, who launched the company in 2023, is transitioning from chief of research and development to CEO.

Acequia Capital led the round, with Athenaeum Ventures and Actuate Ventures participating for a combined $1 million. The company contracts with the University of Washington's Washington Nanofabrication Facility and aims to have a product for commercial sale within about a year.