Overview

• The Munich-based startup closed its Series A round with €130 million led by Cherry Ventures and Balderton Capital, marking Europe’s largest private fusion energy investment to date.
• Proxima Fusion has raised over €185 million since its 2023 spin-out from the Max Planck Institute for Plasma Physics, combining public and private support.
• The new funding will drive work on a key model coil for its stellarator design and support site negotiations for the Alpha demonstration reactor.
• Proxima Fusion is competing with firms like Commonwealth Fusion Systems and Marvel Fusion in the global effort to build the first commercial fusion power plant.
• The company plans to expand its more than 80-strong team across Munich, Zurich and Oxford as it engages European governments on reactor location plans.