Companies · Other Energy

Natron Holdings, Inc.New on the radar

HOLLAND · Other Energy

Diligence memoA one-page analyst read on Natron Holdings, Inc. — recommendation, valuation, rhythm, risks.
$55.4M
Total raised · real
1
Rounds
Latest step-up
Top 10%
Sector rank · raised
Series C
Latest stage · inferred · Tue Apr 01 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Natron Holdings, Inc. looks fair against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the energy sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 1.34× the median modeled value of Series C Other Energy companies in 2025–2027 (17 peers) — value vs value, same stage and era.
  • Within the normal band (134% of peer median) for its niche.
Quiet
  • Last raise 15 mo ago; this sector typically re-raises about every 12 months.
  • Slightly overdue versus sector cadence.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Natron Holdings, Inc. behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
1.3 yr record
Peak capital year was 2025 with $55.4M across 1 filings.
Market position
ahead of 91% of Other Energy peers
Capital scale is ahead of 91% of Other Energy peers; modeled value is above 93% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2025: $55.4M across 1 filings.
  • Largest single filing was $55.4M on 2025-04-01.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Energy

Natron Holdings, Inc. is one of 2048 Other Energy companies tracked from HOLLAND. By capital raised it ranks among the largest (ahead of 91% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
3
Investors (latest)
2024
Year incorporated
2025-04-01
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$125M$250M$375M$500MSeries C · 2025-04-01 Raised $55M (real) Modeled valuation $329M (est)$55M$329MSeries C2025

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series C$55.4M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 20%.

Modeled valuation trajectory
$329.0M
Base estimate est.
$203.5M
Conservative case
$450.8M
Upside case
$369.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the energy sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
74%
Survival probability
55% low · 86% high
1.16×/yr
Annual markup
1.33×/yr upside case
1.3 yr
Elapsed time used
1.3 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
1.3 yr
On record since
2025
First round
New
First-time filer
How it compares to the market

Benchmarked against 2048 companies in Other Energy. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 16× above median
This company$55.4M
Sector median$3.4M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.2× above median
This company$55.4M
Sector median$47.0M
Modeled value — vs sector median (estimate, all stages) 19× above median
This company$329.0M
Sector median$17.0M

Raised more than 91% of sector peers (real $). Modeled value above 93% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #4 of 17.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Cig Ds1, Llc · Series C Raised $70.0M · modeled $381.6M (est)Electra Battery Materials Corp · Series C Raised $111.3M · modeled $377.8M (est)Z-GEO Holdings, LLC · Series C Raised $60.0M · modeled $354.9M (est)Ludvik Electric Co · Series C Raised $60.0M · modeled $328.8M (est)Antares Nuclear, Inc. · Series C Raised $86.7M · modeled $284.0M (est)Nuclear Co · Series C Raised $46.3M · modeled $276.2M (est)Cig Ds2, Llc · Series C Raised $45.5M · modeled $247.0M (est)Standard Nuclear, Inc. · Series C Raised $159.0M · modeled $244.7M (est)Ga Drilling Holding, Co. · Series C Raised $82.7M · modeled $208.4M (est)Malta Inc. · Series C Raised $106.5M · modeled $127.6M (est)Bioleum Corp · Series C Raised $106.7M · modeled $116.6M (est)Natron Holdings, Inc. (this company) Raised $55.4M · modeled $329.0M (est)Natron Holdings, Inc.
CompanyStageRaised · realValue · estvs peer med.
Cig Ds1, LlcSeries C$70.0M$381.6M1.56×
Electra Battery Materials CorpSeries C$111.3M$377.8M1.54×
Z-GEO Holdings, LLCSeries C$60.0M$354.9M1.45×
Natron Holdings, Inc. this companySeries C$55.4M$329.0M1.34×
Ludvik Electric CoSeries C$60.0M$328.8M1.34×
Antares Nuclear, Inc.Series C$86.7M$284.0M1.16×
Nuclear CoSeries C$46.3M$276.2M1.13×
Cig Ds2, LlcSeries C$45.5M$247.0M1.01×
Standard Nuclear, Inc.Series C$159.0M$244.7M1.00×
Ga Drilling Holding, Co.Series C$82.7M$208.4M0.85×
Malta Inc.Series C$106.5M$127.6M0.52×
Bioleum CorpSeries C$106.7M$116.6M0.48×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series C$55.4M2025-04-01$369.3M$329.0M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series C$55.4M2025-04-01
    • First recorded raise — entered as Series C.
    • 3 investors on this round.
Intelligence
Modeled next raise
$88.6M
Modeled next size est.range $57.6M$141.8M
Last step-up
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Anthony Mackenzie Lin2025-04
Boris Mackenzie Bystrov2025-04
Ken Mackenzie Park2025-04
Wendell Mackenzie Brooks2025-04
Registry & provenance

Natron Holdings, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
2065322
SEC CIK
2024
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Faro Energy Holdings LLCOther EnergySeries C$55.6M$482.6Msame sector · same stage
TerraVolta Resources, LLCOther EnergySeries C$53.2M$422.8Msame sector · same stage
AMOGY Inc.Other EnergySeries C$57.9M$70.3Msame sector · same stage
SMG Industries Inc.Other EnergySeries C$59.0M$402.4Msame sector · same stage
Ludvik Electric CoOther EnergySeries C$60.0M$328.8Msame sector · same stage
Phi Group IncOther EnergySeries C$60.0M$296.4Msame sector · same stage
Z-GEO Holdings, LLCOther EnergySeries C$60.0M$354.9Msame sector · same stage
e2Companies LLCOther EnergySeries C$61.2M$557.0Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Cnergreen CorpOther EnergySeed$8.3M88%
Natel Energy Holdings, Inc.Other EnergySeries B$66.7M87%
Novasource Power Holdings, Inc.Other EnergySeries C$877.4M87%
Geronimo Energy Holdings, LLCOther EnergySeries B$26.4M86%
Natron Energy, Inc.Energy / ClimateSeries D+$1.7B86%
NexGrid Holdings, Inc.Other EnergySeries A$147.6M86%
Northway Resources Corp.Other EnergyPre-Seed$10.5M86%
NovoHydrogen Holdings LLCOther EnergySeries B$146.8M86%
Frequently asked
How much funding has Natron Holdings, Inc. raised?
Natron Holdings, Inc. has raised approximately $55.4M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Natron Holdings, Inc.'s estimated valuation?
Provath's modeled valuation for Natron Holdings, Inc. is approximately $329.0M (modeled range $203.5M–$450.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Natron Holdings, Inc. at?
Natron Holdings, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Tue Apr 01.
What does Natron Holdings, Inc. do and where is it based?
Natron Holdings, Inc. operates in the Other Energy sector, based in HOLLAND.
Explore related

See where Natron Holdings, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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