Valar Atomics, a startup building small modular nuclear reactors (SMRs) ' essentially miniaturized, factory-built power plants designed to be cheaper and faster to deploy than traditional reactors ' is in talks to raise a new round of capital, according to three sources familiar with the company. The three-year-old company is seeking a valuation of about $6 billion, and Sequoia is expected to lead the deal, the people said. Part of that capital has been raised previously at a lower valuation, the people told TechCrunch. Specifically, Valar has raised $450 million ' including $340 million in equity and $110 million in debt ' at a $2 billion valuation, per a Bloomberg report in March. Deals structured in multiple installments at varying valuations, occasionally executed at different times, are becoming increasingly common in today's AI-fueled fundraising environment. These deals can create the perception that capital was invested at a single, uniform valuation. In reality, investors...
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