Nuclear startups have been soaking up attention from hyperscalers and cash from investors. Aalo Atomics is the latest beneficiary of the Big Tech-small nuclear love affair, raising $100 million in a Series B, the company announced today.
The startup plans to flip the switch on its first reactor in the summer of 2026, CEO Matt Loszak said in a LinkedIn post. The facility will be located on the campus of the Idaho National Laboratory.
Aalo — not to be confused with the defunct furniture startup — could be considered a pseudo-spinout of the Department of Energy lab, which developed and open sourced a small modular reactor design called Marvel. The company’s CTO, Yasir Arafat, previously led Marvel’s design, which Aalo says “inspired” its prototype. Aalo also received development support from the Idaho National Lab as part of an Obama administration program to accelerate nuclear reactor development.
The Series B round was led by Valor Equity Partners with participation from 50Y, Alumni Ventures, Crescent Enterprises, Crosscut, Fine Structure Ventures, Gaingels, Harpoon Ventures, Hitachi Ventures, Kindred Ventures, MCJ, NRG Energy, Nucleation Capital, Perpetual VC, Tishman Speyer, and VamosVentures.
