Germany Fusion Energy Startup Proxima Fusion Raised $468 Million (€411 Million) in New Funding Round at $2.7 Billion (€2.4 Billion) Valuation, Founded in 2023 as Spin-Out from Max Planck Institute for Plasma Physics (IPP) by Francesco Sciortino, Lucio Milanese, Jorrit Lion & Martin Kubie, Investors Include XTX Ventures, East X Ventures, RWE, Google, KfW Capital, SPRIND, Burda Principal Investments, Plural, UVC Partners, Balderton, Cherry Ventures, DST Global Partners, Brevan Howard Macro Venture, Lightspeed, DTCF, redalpine, Leitmotif, Elaia, CDP Venture Capital, Bayern Kapital & EIC Fund
8th July 2026 | Hong Kong
Germany fusion energy startup Proxima Fusion has raised $468 million (€411 million) in new funding round at $2.7 billion (€2.4 billion) valuation. In 2025 June, Proxima Fusion raised $149 million (€130 million) in Series A funding. Proxima Fusion was founded in 2023 as a spin-out from Max Planck Institute for Plasma Physics (IPP) by Francesco Sciortino, Lucio Milanese, Jorrit Lion & Martin Kubie, Investors Include XTX Ventures, East X Ventures, RWE, Google, KfW Capital, SPRIND, Burda Principal Investments, Plural, UVC Partners, Balderton, Cherry Ventures, DST Global Partners, Brevan Howard Macro Venture, Lightspeed, DTCF, redalpine, Leitmotif, Elaia, CDP Venture Capital, Bayern Kapital & EIC Fund. Proxima Fusion – Proxima Fusion is Europe’s leading stellarator company and the first spin-out from the Max Planck Institute for Plasma Physics. The company is developing commercial fusion power plants based on the QI-HTS stellarator concept, building on the scientific breakthroughs of the Wendelstein 7-X programme. With Alpha, Proxima is developing a net-energy fusion demonstrator targeted for the early 2030s, paving the way for Stellaris, the world’s first commercial stellarator fusion power plant later that decade. This ambition is supported by the Alpha Alliance, a consortium of more than 50 industrial partners, and a distinguished Industrial Development Board. Headquartered in Munich, with offices in Zurich and Oxford, Proxima employs around 200 people across engineering, science and operations. Proxima Fusion spun out of the Max Planck Institute for Plasma Physics (IPP) in 2023 to build fusion power plants using QI-HTS stellarators.
“ Germany Fusion Energy Startup Proxima Fusion Raised $468 Million (€411 Million) in New Funding Round at $2.7 Billion (€2.4 Billion) Valuation, Founded in 2023 as Spin-Out from Max Planck Institute for Plasma Physics (IPP) by Francesco Sciortino, Lucio Milanese, Jorrit Lion & Martin Kubie, Investors Include XTX Ventures, East X Ventures, RWE, Google, KfW Capital, SPRIND, Burda Principal Investments, Plural, UVC Partners, Balderton, Cherry Ventures, DST Global Partners, Brevan Howard Macro Venture, Lightspeed, DTCF, redalpine, Leitmotif, Elaia, CDP Venture Capital, Bayern Kapital & EIC Fund “
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Germany Fusion Energy Startup Proxima Fusion Raised $149 Million in Series A Funding, Founded in 2023 as Spin-Out from Max Planck Institute for Plasma Physics (IPP) by Francesco Sciortino, Lucio Milanese, Jorrit Lion & Martin Kubie, Investors Include Cherry Ventures, Balderton Capital, UVC Partners, DeepTech & Climate Fonds (DTCF), Plural, Leitmotif, Lightspeed, Bayern Kapital, HTGF, Club degli Investitori, OMNES Capital, Elaia Partners, Visionaries Tomorrow, Wilbe & Redalpine
12th June – Germany fusion energy startup Proxima Fusion has raised $149 million (€130 million) in Series A funding. Proxima Fusion was founded in 2023 as a spin-out from Max Planck Institute for Plasma Physics (IPP) by Francesco Sciortino, Lucio Milanese, Jorrit Lion & Martin Kubie, Investors Include Cherry Ventures, Balderton Capital, UVC Partners, DeepTech & Climate Fonds (DTCF), Plural, Leitmotif, Lightspeed, Bayern Kapital, HTGF, Club degli Investitori, OMNES Capital, Elaia Partners, Visionaries Tomorrow, Wilbe & Redalpine. Proxima Fusion – Proxima Fusion spun out of the Max Planck Institute for Plasma Physics (IPP) in 2023 to build fusion power plants using QI-HTS stellarators. Proxima has since assembled a world-class team of engineers, scientists and operators from leading companies and institutions, such as the IPP, MIT, Harvard, SpaceX, Tesla, and McLaren. By taking a simulation-driven approach to engineering that leverages advanced computing and high-temperature superconductors to build on the groundbreaking results of the IPP’s W7-X stellarator, Proxima is leading Europe into a new era of clean energy, for good.
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