Radiant Valuation, Funding & Investors

Radiant is valued at $1.8B as of December 2025.

Last Radiant valuation

$1.8B

Series D · Dec 2025

Last Radiant funding round

Undisclosed stage

Amount undisclosed · Feb 2026

Cumulative funding Radiant raised

$519M

across 6 funding rounds

Key investors in Radiant

  • Boost VC
  • Andreessen Horowitz
  • Founders Fund
  • DCVC
  • Draper Associates
  • Cantos

Radiant Overview

About Radiant

Radiant is a Seattle-headquartered company that engineers the Kaleidos microreactor, a truck-transportable nuclear fission system generating one megawatt of continuous power for off-grid locations, military bases, and disaster response. Designed to eliminate diesel generator reliance, the reactor achieves full power in under 24 hours and operates for 40 years without refueling. Radiant partners with the U.S. Department of Defense through a $10 million contract and collaborates with the Tennessee Valley Authority on demonstrations. Founded in 2019, the firm advances advanced nuclear technology across North America.


Founded

2019

HQ

United StatesLos Angeles, CA

Status

Privately held

Customer focus

B2B & B2G

Revenue model

Product sales

Valuation

$1.8B (Dec 2025)

Radiant Valuation

Radiant is currently valued at $1.8B, based on its Series D in December 2025.

The $300M round was led by Boost VC and Draper Associates, with participation from Align Ventures, Friends & Family Capital, Sahin Boydas, Washington Harbour Partners, ARK Venture Fund and 5 other investors.

Radiant valuation by funding round

Radiant valuation by funding round
DateStageValuation
Dec 2025Series D$1.8B

Radiant Funding History

Radiant has raised a total of $519M across 6 funding rounds.

Radiant's first fundraising round was a $1M angel round in September 2020. The most recent completed round was a undisclosed-stage round in February 2026.

Radiant funding rounds

Radiant funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2026Undisclosed stageLockheed Martin Ventures (lead)--Radiant develops nuclear generators to provide reliable power for remote communities, critical infrastructure, and defense applications. The five-year-old company, led by CEO and founder Doug Bernauer, is working to start up its first reactor in summer 2026 at the Idaho National Laboratory’s Demonstration of Microreactor Experiments facility. In December prior to the Lockheed investment, Radiant completed a $300 million Series D raise to advance efforts to break ground on a new factory early in 2026. Radiant added Lockheed Martin Ventures as a strategic investor to its oversubscribed funding round announced on February 17, 2026, bringing in a defense industry partner alongside backers like Washington Harbour Partners to expand in the national security landscape.
Dec 2025Series DBoost VC (lead); Draper Associates (lead); Align Ventures; Friends & Family Capital; Sahin Boydas; Washington Harbour Partners; ARK Venture Fund; Giant Ventures; Andreessen Horowitz; Chevron Technology Ventures; Founders Fund; DCVC$300M$1.8B-
Nov 2024Series CAlumni Ventures (lead); DCVC (lead)$165M-Radiant Industries, a California-based nuclear technology startup founded in 2020, develops mass-produced, portable 1MW Kaleidos microreactors as zero-emission alternatives to diesel generators for remote sites, military, and off-grid applications. The company announced a $100 million initial Series C funding tranche in late November 2024 led by DCVC, with participation from a16z American Dynamism, Union Square Ventures, Felicis, Washington Harbour Partners, and Chevron Technology Ventures, bringing total funding to $160 million at that point. This followed a passive cooldown demonstration of a full-scale non-fueled reactor. The Series C funding supports completion of the Kaleidos Development Unit for fueled testing at Idaho National Laboratory's DOME facility in 2026, the first new U.S. reactor design test in over 50 years, and early factory construction for up to 50 microreactors annually. Radiant secured U.S. Department of Energy selection for high-assay low-enriched uranium (HALEU) fuel. The round reflects momentum in nuclear renaissance, with production commitments for over 10 reactors through 2030. By May/June 2025, Radiant closed the full $165 million Series C, still led by DCVC, adding investors like StepStone, Giant Ventures, ARK Venture Fund, and others, raising total funding to $225 million. Initial deployments are planned for 2028.
Apr 2023Series BAndreessen Horowitz (lead); Decisive Point; Founders Fund; McKinley Capital Management; Boost VC; Cantos; Draper Associates$40M-Radiant Industries (Radiant Nuclear) develops portable, mass-produced nuclear microreactors like Kaleidos, aimed at providing clean, reliable energy for remote sites, defense, and industrial uses. Founded in 2019 by Douglas Bernauer and Robert Urberger, the El Segundo, CA-based company focuses on compact, safe reactors to address limitations of traditional nuclear power. The targeted Series B round around April 2023, led by Andreessen Horowitz with participation from Boost VC, Cantos, Decisive Point, Draper Associates, Founders Fund, McKinley Capital Management, and others, raised approximately $40.71 million, bringing prior total funding to around $60-75 million before later rounds. Subsequent funding includes a $100 million Series C in October 2024 led by DCVC with many overlapping investors, a $66 million Series C-2 in May 2025 also led by DCVC adding new backers like ARK Venture Fund and Giant Ventures, pushing total to $225 million, and a $300 million Series D in December 2025 co-led by Draper Associates and Boost VC at $1.8 billion post-money valuation, with overall funding exceeding $525 million by early 2026. These rounds support reactor development, Kaleidos testing, factory construction in Oak Ridge, Tennessee, and scaling to 50 microreactors annually. Radiant operates in the advanced nuclear sector amid a 'nuclear renaissance,' competing with firms like Oklo and NuScale. Investors highlight its potential to unlock industry bottlenecks for clean energy transition.
Mar 2022Series AUnion Square Ventures (lead); JAM Fund; Decisive Point; Also Capital; Arjun Sethi; Tribe Capital; McKinley Capital Management; Cantos; MANTIS Venture Capital$13M-Radiant Nuclear develops portable nuclear microreactors to replace diesel generators with clean, reliable energy for defense, disaster response, remote industry, and critical infrastructure. The company's Kaleidos reactors are factory-built and transportable, with plans for commercial deployment in 2028 and a reactor test in 2026. Radiant operates out of El Segundo, CA, with over 100 employees. On March 9, 2022, Radiant raised $10 million in a Series A round led by Union Square Ventures, with participation from Boost VC and DCVC. This followed a $1.2 million angel round in September 2020. Later funding included a Series C starting with $100 million led by DCVC, featuring a16z, Union Square Ventures, Felicis, Washington Harbour Partners, Chevron Technology Ventures, Founders Fund, Decisive Point, McKinley Alaska, Boost VC, and Also Capital. A May 30, 2025, Series C extension raised $165 million at $300 million valuation from DCVC, StepStone, Giant Ventures, and ARK Venture Fund. In December 2025, a $300 million+ Series D led by Draper Associates and Boost VC achieved $1.8 billion post-money valuation, with total funding reaching $518 million.
Sep 2020AngelHank Vigil; TGM ventures; Acequia Capital (AceCap); Thomas McInerney; Justin Mateen; Charlie Songhurst; Boost VC; Josh Manchester$1M--

Who has invested in Radiant?

30 investors have backed Radiant across its funding rounds, including Boost VC, Andreessen Horowitz, Founders Fund, DCVC, Draper Associates and Cantos.

Lead investors include Lockheed Martin Ventures, Boost VC, Draper Associates, Alumni Ventures, DCVC and 2 other investors.


Radiant Investors

Investors in Radiant by funding rounds participated
InvestorHQRoundsRoleFirst check
Boost VCUnited StatesSan Francisco, CA3LeadSep 2020
Decisive PointUnited StatesPoughkeepsie, NY2ParticipantMar 2022
Andreessen HorowitzUnited StatesSan Francisco, CA2LeadApr 2023
Founders FundUnited StatesSan Francisco, CA2ParticipantApr 2023
DCVCUnited StatesUnited States2LeadNov 2024
McKinley Capital ManagementUnited StatesAnchorage, AK2ParticipantMar 2022
CantosUnited StatesSan Francisco, CA2ParticipantMar 2022
Draper AssociatesUnited StatesSan Francisco, CA2LeadApr 2023
Align VenturesUnited StatesNew York City, NY1ParticipantDec 2025
JAM FundUnited StatesLos Angeles, CA1ParticipantMar 2022
Friends & Family CapitalUnited StatesSan Francisco, CA1ParticipantDec 2025
Hank VigilUnited StatesHancock, MI1ParticipantSep 2020
Sahin BoydasUnited StatesSan Francisco, CA1ParticipantDec 2025

This data is available for Pro users. Sign up to see all 30 Radiant investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Radiant Competitors

Radiant competitors include listed companies like Sunrun, SMA Solar Technology, SolarEdge and Xinyi Solar, and private ones like 1Komma5° and Clean Planet.

Public and private companies comparable to Radiant
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SunrunUnited StatesUnited StatesPublicly listed$3B$546M$2.1B6.0x
SMA Solar TechnologyGermanyGermanyPublicly listed$1.7B($77M)$2.2B1.1x
SolarEdgeUnited StatesUnited StatesPublicly listed$1.2B($365M)$2.2B1.6x
Xinyi SolarChinaChinaPublicly listed$3.1B$544M$2.3B1.6x
1Komma5°GermanyGermanyPrivate$598M-$1.4B-
Clean PlanetJapanTokyoPrivate--$1.2B-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
TerraVest Industries$982M$209M2.7x2.1x12.6x11.3x
Shanghai Electric Wind$2B($72M)1.1x-(31.7x)-
Yellow Cake$434M$416M3.9x-4.1x93.6x
Uranium Royalty$187M$53M12.8x17.0x45.5x59.5x
Standard Nuclear$3M($16M)658.6x-(132.3x)-
ADI Global Distribution$4.8B($54M)0.6x-(50.7x)-
CIMC Enric$3.9B$271M0.4x0.4x5.9x5.3x
Borregaard$807M$169M2.2x2.2x10.7x9.4x

This data is available for Pro users. Sign up to see all Radiant competitors and their valuation data.

Start Free Trial

Common questions about Radiant

When was Radiant founded?Radiant was founded in 2019.
Where is Radiant headquartered?Radiant is headquartered in Los Angeles, CA, United States.
Is Radiant publicly listed?No, Radiant is a private, VC-backed company.
What is Radiant's valuation?Radiant was last valued at $1.8B in its Series D in December 2025.
How much funding has Radiant raised?Radiant has raised $519M across 6 funding rounds.
What was Radiant's last funding round?Radiant's last funding round was a undisclosed-stage round in February 2026, led by Lockheed Martin Ventures.
Who are Radiant's investors?Radiant's investors include Boost VC, Decisive Point, Andreessen Horowitz, Founders Fund, DCVC, McKinley Capital Management, Cantos, Draper Associates, Align Ventures, JAM Fund and 20 others.
Which companies are comparable to Radiant?Companies comparable to Radiant include Sunrun, SMA Solar Technology, SolarEdge, Xinyi Solar, 1Komma5° and Clean Planet.

See companies similar to Radiant

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial