regional: A two-person Seattle startup lands $1M to reinvent

Seattle-based TriMagnetix, a two-person startup, has secured up to $1 million in new funding to advance its groundbreaking semiconductor chip technology. Initial lab tests indicate these chips consume a remarkable 800 times less energy than conventional chips while processing the same amount of data. This innovative approach positions TriMagnetix to revolutionize computing, particularly for energy-demanding applications like space technology and terrestrial data centers.

The startup, co-founded by Madison Hanberry and Lucas Hahn, leverages nanomagnetic technology that operates on electrical pulses rather than the continuous power streams required by traditional semiconductors. This fundamental shift not only drastically cuts electricity consumption but also significantly reduces heat generation, a critical factor in high-performance computing environments. Furthermore, the design inherently makes the chips resistant to radiation, a key advantage for deployment in the harsh conditions of space.

This latest funding round was led by Acequia Capital, with additional participation from Athenaeum Ventures and a commitment from Actuate Ventures, bringing the combined total to $1 million. This investment follows a prior $200,000 infusion last year from SNØCAP, a climate venture fund, underscoring investor confidence in TriMagnetix's energy-saving potential.

Beyond financial backing, TriMagnetix has made substantial progress on multiple fronts. The company has forged a partnership with WaveWorks Technologies for its first paid pilot program, demonstrating early market traction. It has also been accepted into the prestigious Plug and Play Semiconductor Accelerator, a program known for fostering innovation in the chip industry. Further bolstering its development, TriMagnetix recently joined the Nvidia Inception program, gaining access to tech experts, introductions to Nvidia’s corporate clients, and valuable marketing support.

While the startup's energy-efficient chips hold promise for earthbound data centers grappling with soaring energy use and heat output, TriMagnetix is particularly focused on satellite applications. Lucas Hahn, co-founder, president, and chief strategic officer of TriMagnetix, highlighted the strategic importance of the Pacific Northwest, home to industry giants like Starcloud and SpaceX, as the “satellite capital of the world.”

Hahn noted that satellite companies are actively seeking semiconductors that offer both energy efficiency and robust resistance to space radiation. He emphasized that TriMagnetix’s devices are a “no-brainer” for meeting these critical demands, positioning the company at the forefront of next-generation space computing hardware.

The TriMagnetix team is currently lean but impactful. Madison Hanberry, who founded the company in 2023 and has served as chief of research and development, is transitioning to the role of CEO. Lucas Hahn serves as co-founder, president, and chief strategic officer. Aspen White, Madison Hanberry’s sister, is also listed as a co-founder.

The chips currently under development by TriMagnetix differ from high-performance graphics processing units (GPUs) used in artificial intelligence and 3D animation, as well as simpler central processing units (CPUs). Hahn clarified that their technology is designed to replace “specific compute in certain devices at a very low level.” He added, “So not quite CPU yet, but it is at the core level doing similar things,” indicating its foundational role in device operations.

To accelerate its development timeline, TriMagnetix has contracted with the Washington Nanofabrication Facility at the University of Washington, utilizing its advanced fabrication equipment. The startup aims to have a product ready for commercial sales within the next year, marking a rapid transition from research and development to market availability. This milestone would solidify Seattle's growing reputation as a hub for cutting-edge semiconductor innovation and space technology.

FAQ

Q: What makes TriMagnetix's chips so energy efficient?

A: TriMagnetix utilizes nanomagnetic technology that requires only electrical pulses, rather than a constant power stream, to process data. This drastically reduces electricity consumption by up to 800 times compared to traditional chips and significantly lowers heat generation.

Q: What are the primary applications TriMagnetix is targeting?

A: While the chips could benefit earthbound data centers, TriMagnetix is primarily focused on satellite applications. The chips' energy efficiency and inherent radiation resistance make them ideal for the challenging environment of space, meeting a critical need expressed by satellite companies.

Q: When can we expect TriMagnetix's chips to be commercially available?

A: TriMagnetix aims to have a product available for commercial sales within the next year. They are currently utilizing the Washington Nanofabrication Facility at the University of Washington to advance their fabrication process.