TL;DRPrivate fusion funding has crossed $13B with 17 startups raising $100M+. Helion and Focused Energy closed big rounds in June 2026. No one has hit breakeven.
The number of fusion startups that have raised more than $100 million has reached 17, according to a TechCrunch tally published Thursday, with total private investment in the sector now exceeding $13 billion. Two of the most recent rounds, Helion Energy’s $465 million raise and Focused Energy’s $240 million Series A, both closed in June 2026.
Commonwealth Fusion Systems leads the pack with roughly $3 billion in total funding and a tokamak reactor called SPARC that the company says is about 75% complete at its facility in Devens, Massachusetts. Behind it sits TAE Technologies at $1.79 billion in pre-merger funding, Helion Energy at $1.5 billion, and Pacific Fusion and Shine Technologies each at around $1 billion.
The scale of capital flowing into fusion has accelerated sharply. The Fusion Industry Association reported that 53 companies raised $2.2 billion in 2025 alone, and cumulative private investment crossed $8 billion that same year. The June 2026 rounds suggest the pace is not slowing down.
Helion’s latest raise, confirmed by BusinessWire, valued the company at $15.5 billion. The Sam Altman-backed startup has a power purchase agreement with Microsoft and says it will deliver electricity by 2028. That timeline would make it the first private fusion company to reach commercial power generation, though fusion timelines have a long history of slipping.
