Uranium Digital has raised $16.5 million to expand an electronic trading platform designed to bring uranium transactions on-chain, as the growth of energy-intensive data centres drives renewed interest in nuclear power.
The New York-based start-up allows institutions to buy and sell uranium electronically, with blockchain technology tracking ownership of material held at a storage facility. The Series A round closed last month.
Blockchain Capital led the financing, which also included existing investors Portal Ventures and Apeiron Investment Group, founded by Christian Angermayer. The company has now raised $22.6 million, following a $6.1 million seed round backed by Framework Ventures in 2025.
Uranium Digital has not disclosed its valuation after the latest investment. The funding will be used to expand the platform and its operations.
Alex Dymala-Dolesky, the company’s chief executive and co-founder, said its aim was to create the infrastructure needed to trade nuclear fuels in a similar way to established commodities such as gold, oil and gas.
Uranium trading platform targets an outdated market
Uranium remains difficult to buy and sell compared with many other commodities. Traders typically rely on brokers for prices, sign contracts by email and work with storage facilities to transfer ownership.
Dymala-Dolesky developed the idea while trading commodities at a New York hedge fund. After studying economics and working at Canadian investment bank Canaccord, he had become used to trading metals including copper and silver on electronic screens, but found no equivalent system for uranium.
He left his job in 2024 to build the platform and recruited Jack Rindner, a former senior analyst in corporate treasury at Goldman Sachs, as co-founder. Uranium Digital now has 11 employees working across Canada, New York and Hong Kong.
Demand for nuclear power has been growing alongside the expansion of data centres. Amazon has announced plans with reactor developer X-energy and utility AEP to explore 12 small modular reactors in Indiana, while Meta has agreed to support Oklo in developing up to 1.2 gigawatts of nuclear capacity in Ohio.
Google also announced a partnership with Kairos Power and the Tennessee Valley Authority in August 2025 to bring a 50-megawatt nuclear plant online by 2030. The proposed reactors will require uranium fuel, adding to the potential market for more efficient trading systems.
Yuan Han Li, a partner at Blockchain Capital, said the firm had initially been surprised by how traditional the uranium market remained. After examining the sector, investors saw potential customers in uranium miners seeking to secure sale prices and utilities looking to obtain fuel, as well as investors seeking exposure to uranium prices.
