In addition to Bayern Kapital, Cherry Ventures and Balderton Capital led the investment, with further participation from UVC Partners, Plural, Leitmotif, Lightspeed, and others. The clean-energy deep-tech startup Proxima Fusion aims to design a functional fusion system and to build and operate the world’s first commercial fusion power plant by 2030. To achieve this, Proxima Fusion has assembled a team of world-leading scientists and engineers from technology companies and research institutions, builds on more than 60 years of fusion research, and relies on so-called stellarator technology. A stellarator is a machine that uses magnetic fields to control the plasma required for fusion in an energy-efficient and effective manner. In early 2025, Proxima Fusion unveiled Stellaris, the first commercial stellarator design that integrates physical, technical, and maintenance aspects and is considered a major breakthrough in fusion energy and an important milestone on the path to the first fusion power plant.
Proxima Fusion: Record Funding Round Expanded Once Again - Business Insider
Proxima Fusion: Nuclear fusion startup secures record funding from investors