Seattle-based TriMagnetix has raised up to $1 million in new funding to continue developing a semiconductor chip that, according to initial lab testing, consumes 800 times less energy than a traditional chip to process the same amount of data.
The startup uses nanomagnetic technology that requires only electrical pulses rather than the constant power stream traditional chips need, dramatically reducing electricity consumption and heat generation. The design also makes the chip resistant to radiation, and it’s built to integrate with existing computing infrastructure.
The startup has made additional progress beyond the new funding:
- TriMagnetix is partnering with WaveWorks Technologies on its first paid pilot.
- It has joined the Plug and Play Semiconductor Accelerator.
- It was recently accepted into the Nvidia Inception program, which offers support including access to tech experts, introductions to Nvidia’s corporate clients and marketing.
Earthbound data centers struggling to curb energy use and heat output are seeking more sustainable chips, but the startup is particularly interested in satellite applications.
The Pacific Northwest, home to companies including Starcloud and SpaceX, is the “satellite capital of the world,” said Lucas Hahn, co-founder, president and chief strategic officer of TriMagnetix.
Satellite companies have told him they want semiconductors that are energy efficient and resistant to the radiation experienced in space, Hahn said. That makes TriMagnetix’s devices “a no-brainer.”
In addition to Hahn, the startup’s other employee is Madison Hanberry, who launched the TriMagnetix in 2023. Hanberry, who has served as chief of research and development, is transitioning to CEO. His sister, Aspen White, is also a co-founder.
The chips made so far by TriMagnetix are not the high-performance graphics processing units, or GPUs, used for applications such as AI and 3D animation. Nor are they simpler central processing units, or CPUs.
“It’s replacing specific compute in certain devices at a very low level,” Hahn said. “So not quite CPU yet, but it is at the core level doing similar things.”
TriMagnetix has contracted with the Washington Nanofabrication Facility at the University of Washington to use the site’s fabrication equipment. It aims to have a product available for commercial sales within the next year.
The round was led by Acequia Capital with participation from Athenaeum Ventures. Actuate Ventures has also committed to the round. The combined total from the three firms is $1 million. Last year, the startup received a $200,000 investment from climate venture fund SNØCAP.