US rare-earths magnet maker Vulcan Elements said on Monday it raised $65 million in a series A funding round.
The funding round was led by Altimeter Capital with significant participation from One Investment Management, according to a statement by the Durham, N.C. -based company. The investment is intended to accelerate Vulcan’s expansion to commercial scale.
The fresh funding comes as the Trump administration and Congress eye new measures to support domestic production of rare-earth magnets, which are crucial for defense manufacturing. The Senate Armed Services Committee in its version of the fiscal 2026 defense policy bill included a $4 million ...