Valar Atomics, a company developing miniature nuclear reactors, has closed a $1 billion Series B financing led by Sequoia Capital.
The financing will help Valar accelerate manufacturing of standardized nuclear power plants to meet the rapidly growing energy demands of artificial intelligence, industry, and national security.
Sequoia was joined in this round by Apandion, Atreides Management, Conviction, Dream Ventures, HOF Capital, Point72, Riot Ventures, Snowpoint Ventures, Valor Equity Partners, and other both new and longtime investors. In addition to the $1 billion of equity, Valar has also closed a $200 million credit facility led by Erebor Bank, as administrative agent, and J.P. Morgan, alongside Crescent Cove and Hercules Capital.
With the investment, Sequoia partner Shaun Maguire is joining Valar’s board of directors.
