Hey followers! Today, let’s dive into the exciting world of nuclear fusion, where science fiction is inching closer to reality.

Proxima Fusion, a German startup, just raised a hefty €130 million in a Series A round, boosting its total funding beyond €185 million. This fresh capital is a big step toward creating a zero-dependence fusion power plant, unlike traditional reactors that rely on uranium imports.

The company’s goal is to make fusion a reliable energy source by the early 2030s, with CEO Francesco Sciortino predicting a surge of fusion giants across geopolitical blocs. So far, Proxima’s earlier seed funding in April 2024 was only €20 million, but recent breakthroughs, like announcing its stellarator design in a peer-reviewed paper, have accelerated its progress.

The paper highlighted the company’s innovative Stellarator concept, which employs magnetic fields to contain hot plasma in a stable ring, a key for sustainable fusion. By building on Germany’s Wendelstein 7-X’s research, Proxima developed its Stellaris design, marking a significant milestone.

This achievement, along with rapid progress, attracted investors. The round included major European venture funds like Balderton Capital and Cherry Ventures. Both are well-funded themselves, with Balderton having raised over $1.3 billion in 2024, and Cherry closing a $500 million fund early 2025.

Proxima aims to use this funding for milestones including a hardware demonstration in 2027. The company has European roots, with labs in Munich, and collaborations with Swiss and UK fusion research centers. Founder Sciortino, an Italian physicist with experience across Europe and MIT, emphasizes Europe’s unique role in shaping this future.

With support from prominent European investors and a strategic growth plan, Proxima looks set to become a leader in this clean energy revolution, aiming for a practical fusion plant in the next decade.