Proxima Fusion Secures €130M Series A to Pioneer Fusion Power
Deal News | Jun 11, 2025 | High-Tech Gruenderfonds Manage
Proxima Fusion, Europe's fastest-growing fusion startup, has secured €130 million in a Series A funding round, marking it the largest private fusion investment round in Europe. This funding round aims to advance Proxima's mission to build the world's first commercial fusion power plant based on a stellarator design. Founded in early 2023 as a spin-out from the Max Planck Institute for Plasma Physics, Proxima is strategically positioned to leverage Europe's scientific edge in fusion research into commercial applications. The Series A round was supported by significant investors including Cherry Ventures, Balderton Capital, and UVC Partners. The company plans to complete its Stellarator Model Coil by 2027 and finalize a site for its demo stellarator ‘Alpha’. Proxima aims to propel Europe into a new era of clean energy with groundbreaking engineering efforts and partnerships.
Sectors
- Energy
- Venture Capital
Geography
- Europe – The project and its implications are primarily focused on Europe, as Proxima Fusion aims to establish a leading position for Europe in the fusion energy industry.
- Germany – Proxima Fusion and several key partners are based in Germany, a significant hub for the fusion technology and funding activity mentioned in the article.
Industry
- Energy – The focus of the article is on fusion energy development, a crucial part of the global transition to clean and sustainable energy.
- Venture Capital – The article discusses a significant Series A funding round, indicating the role of venture capital in advancing fusion technology.
Financials
- €130 million – The Series A funding round total amount raised by Proxima Fusion.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Proxima Fusion | Target Company | Company | A fusion energy startup focused on developing the world’s first stellarator-based commercial fusion power plant. |
| High-Tech Gründerfonds (HTGF) | Investor | Company | A key investor in the Series A round, HTGF is a leading early-stage investor in technology companies in Germany and Europe. |
| Cherry Ventures | Co-Investor | Company | A venture capital firm that co-led the Series A funding round for Proxima Fusion. |
| Balderton Capital | Co-Investor | Company | A venture capital firm that co-led the Series A funding round for Proxima Fusion. |
| Max Planck Institute for Plasma Physics | Research Partner | Research Institution | Proxima Fusion spun out from this institute and continues to collaborate on fusion technology development. |