Antares has raised $470 million in Series C funding, co-led by Paradigm and Caffeinated Capital.
It is split into $370 million equity and $100 million debt, bringing total capital raised to over $600 million.
The capital supports scaling production for the Mark-1 electricity-producing reactor in 2027, followed by initial U.S. military installations in 2028.
The U.S. government gave itself a deadline it did not yet have the technology to meet. Executive Order 14299 requires the Department of Defense to have an advanced nuclear reactor running at a domestic military installation by September 30, 2028. No company had a working reactor capable of hitting that date when the order was signed. Antares just raised $470 million that it will be the one that does.
The Torrance, California-based nuclear fission startup has closed a Series C round of $470 million, split into $370 million in equity and $100 million in debt, co-led by Paradigm and Caffeinated Capital, with Point72 Ventures, Shine Capital, and Industrious Ventures also participating.
