Proxima Fusion, a Munich, Germany-based startup working to deliver fusion energy via QI stellarators, raised an extension of its Pre-Seed funding now totalling €7.5m.
New investors include Visionaries Tomorrow, Hummingbird Collective, Achleitner Ventures, Bosch Holding, the FlixFounders fund, and a pool of angel investors. The latest round was an extension of Proxima Fusion’s €7m pre-seed round, led by Plural Platform and UVC Partners.
Led by Francesco Scortino, CEO, Proxima Fusion is working to develop plants via optimized stellarators, devices that form magnetic cages for high-energy matter. It is a spin-out company from the Max Planck Society Institute for Plasma Physics, which built and operates with W7-X, an advanced stellarator.
The company targets the development of a high-performance stellarator to demonstrate net-energy production capabilities in 2031, and a first-of-a-kind fusion power plant within the 2030s.
FinSMEs
16/11/2023