Kite Magnetics develops Aeroperm, a patented nanocrystalline soft magnetic material designed to replace conventional electrical steel in electric motor stator cores to reduce losses and heat generation. The company has progressed from laboratory research to pilot production since being spun out of Monash University in 2021. Kite Magnetics reports it is supplying samples and paid prototypes to more than 20 global organisations, including OEMs and Tier 1 and 2 suppliers. Current plans include expanding its pilot manufacturing line, completing customer qualification programs and moving Aeroperm from TRL 4 to TRL 6. Financially, the company has secured a $2 million government grant toward a $4.1 million commercialisation project and is preparing a planned $22 million Series A to scale manufacturing toward volume production. Kite Magnetics is backed by SQM Lithium Ventures, Investible and Innovation Victoria.

Total raised

$3M

Funding rounds

2

Latest round

Grant

Latest activity

Jul 2026