"Atlas Atomics" Raises $400 Million for Nuclear Reactors
American nuclear company "Atlas Atomics", co-founded by Vivek Ramaswamy, raised about $400 million in a Series A round at a valuation of nearly $1.9 billion.
American nuclear power company "Atlas Atomics", co-founded by Vivek Ramaswamy, raised about $400 million in a Series A funding round, bringing its valuation to nearly $1.9 billion.
The round was led by General Catalyst with participation from Andreessen Horowitz, according to Dealroom citing Bloomberg Law.
Austin, Texas-based Atlas Atomics is developing heavy-water reactor technology that does not rely on enriched uranium, and the company is still operating under the radar.
Atlas Atomics, General Catalyst, and Andreessen Horowitz declined to comment on the deal.
What do these terms mean?
Series A: The first major funding round for a startup after founding, typically used for expansion after proving the business model.
Heavy water: A form of water in which hydrogen contains an extra neutron, used as a coolant and moderator in some types of nuclear reactors.
Enriched uranium: Uranium in which the proportion of fissile isotope has been increased, used as fuel in most nuclear reactors.
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