Overview

• Proxima Fusion raised €130 million ($148 million) in a Series A round led by Balderton Capital and Cherry Ventures.
• Total investment in the Munich-based startup now exceeds €185 million in public and private capital.
• The company’s stellarator design aims to offer more stable plasma confinement than tokamaks by eliminating plasma current.
• Proxima plans to finish its Stellarator Model Coil demonstration by 2027 as a precursor to its larger Alpha device.
• The Alpha stellarator is scheduled to begin operations in 2031 with a goal of achieving net energy gain.