Nuclear startup Valar Atomics in talks to raise new funding at $6B valuation
Valar Atomics, a startup building small modular nuclear reactors (SMRs) — essentially miniaturized, factory-built power plants designed to be cheaper and faster to deploy than traditional reactors — is in talks to raise a new round of capital, according to three sources familiar with the company. The three-year-old company is seeking a valuation of about $6 billion, and Sequoia is expected to lead the deal, the people said.
The Information was the first to report the funding discussions, including that the El Segundo, California, startup is raising a $1 billion round.
Part of that capital has been raised previously at a lower valuation, the people told TechCrunch. Specifically, Valar has raised $450 million — including $340 million in equity and $110 million in debt — at a $2 billion valuation, per a Bloomberg report in March.
Deals structured in multiple installmentsat varying valuations, occasionally executed at different times, are...
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