California-based start-up Radiant Industries has closed its $165m Series C funding round, bringing the company’s total venture funding to $225m. This latest round, led by DCVC, includes new investments from StepStone, Giant Ventures, Hanwha Asset Management Venture Fund, SGA, Crossbeam Venture Partners, Align Ventures, ARK Venture Fund, Gigascale Capital, HartBeat Ventures, and Pax Ventures.
Current investors include Andreessen Horowitz’s American Dynamism team, who led Radiant’s Series B funding, Union Square Ventures, Founders Fund, Draper Associates, Felicis, Washington Harbour Partners LP, Chevron Technology Ventures, Decisive Point, McKinley Alaska, Nucleation Capital, Boost VC, Also Capital, and others.
The funding will primarily be used to complete Radiant’s Kaleidos Development Unit, and for factory siting and early construction efforts on the facilities that are expected to produce up to 50 microreactors a year. Radiant’s Kaleidos 1 MWe microreactor design is intended to replace diesel generators and to be rapidly deployed to provide resilient power for remote villages, emergency response, and military installations.
This followed reports that the US Department of Energy (DOE) had selected Radiant as one of just five US companies to receive high-assay low-enriched uranium (HALEU) fuel. Radiant will use this fuel for the first test of its Kaleidos, currently targeted for 2026 at the Idaho National Laboratory’s (INL’s) DOME testbed. In November 2024, Radiant completed the front-end engineering & experiment design (FEED) phase to test a prototype of its Kaleidos microreactor at INL.
