# Last Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/last-energy

- Industry: Power & Utilities
- Headquarters: Washington, US
- Website: www.lastenergy.com/
- Total disclosed funding: $165M
- Latest round: Series C (Dec 16, 2025)
- Investors on record: 13

## About

Last Energy, Inc. is a US-based company that focuses on innovative energy solutions, particularly in advanced nuclear power systems, aimed at enhancing the sustainability and reliability of energy supply.Founded in 2019 in Washington, US, Last Energy, Inc. specializes in advanced energy solutions. The company was established by Bret Kugelmass, who has a history of involvement in the energy sector. Last Energy has completed a total of 3 deals, with the most recent funding round, Series B, occurring on August 16, 2024. This round raised USD 41.025 mn, led by Gigafund and included participation from Autodesk Foundation. The total amount raised by the company is USD 41.025 mn, with a current company valuation of USD 304.615 mn.Last Energy specializes in providing advanced energy solutions aimed at addressing the growing demand for sustainable and reliable power sources. Their core offerings focus on innovative energy generation and storage technologies, particularly in the realm of clean and renewable energy. The company emphasizes the integration of modular nuclear power systems designed for various applications, which are especially beneficial in regions experiencing energy shortages or those transitioning to greener energy solutions. The end users of Last Energy's products primarily include utility companies, industrial operators, and large-scale energy consumers across North America and select European markets. These products are tailored to meet the unique energy needs of clients, contributing to a more sustainable future while ensuring energy reliability and efficiency.Last Energy's revenue generation is primarily structured around long-term partnerships and direct contracts with utility companies and large industrial clients. The company engages in Business-to-Business (B2B) transactions, offering tailored contracts that stipulate the terms of energy supply and technology integration. Transactions typically involve the deployment of their flagship modular nuclear systems, which are designed for long-term energy provision and efficiency. Pricing structures are aligned with the scale of energy production and the specific needs of clients, ensuring flexibility and competitiveness in the market. The company’s revenue is supported by ongoing maintenance and support services, further solidifying their customer relationships and enhancing overall client satisfaction. In December 2025, Last Energy, Inc. raised USD 100 million in series C funding led by Astera Institute, with participation from Jam Fund, AE Industrial Partners, Ultranative, Woori Technology Investment, Galaxy Asset Management, Gigafund, and other unspecified investors.

## Funding rounds

- Series C, Dec 16, 2025, $100M — AE Industrial Partners, Woori Technology Investment, Gigafund, Galaxy Asset Management, Dysruptek, Jam Fund, Ultranative, Astera Institute
- Series B, Aug 16, 2024, $41M — Gigafund, Autodesk Foundation
- Series A, Jun 1, 2021, $21M — Armada Investment Group, Gigafund, Quiet Capital
- Seed, Jun 1, 2019, $3M — First Round Capital, Floodgate

## Investors

- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Seed
- Floodgate (https://capitalatlas.ai/funds/floodgate) — Seed
- Armada Investment Group — Series A
- Gigafund (https://capitalatlas.ai/funds/gigafund) — Series A, Series B, Series C
- Quiet Capital (https://capitalatlas.ai/funds/quiet-capital) — Series A
- Autodesk Foundation — Series B
- AE Industrial Partners (https://capitalatlas.ai/funds/ae-industrial-partners) — Series C
- Woori Technology Investment (https://capitalatlas.ai/funds/woori-technology-investment) — Series C
- Galaxy Asset Management (https://capitalatlas.ai/funds/galaxy-asset-management) — Series C
- Dysruptek (https://capitalatlas.ai/funds/dysruptek) — Series C
- Jam Fund (https://capitalatlas.ai/funds/jam-fund) — Series C
- Ultranative (https://capitalatlas.ai/funds/ultranative) — Series C
- Astera Institute — Series C