Proxima Fusion Raises €411 Million at a €2.4B Valuation to Build Europe’s Commercial Fusion Champion
Proxima Fusion today announced a €411 million ($468 million) financing round, bringing the company’s valuation to €2.4 billion ($2.7 billion) and establishing Proxima as the best-funded fusion company in Europe.
The round was led by XTX Ventures and East X Ventures, with RWE and Google as strategic investors.
KfW Capital, SPRIND and Burda Principal Investments joined the round alongside returning investors including Plural, UVC Partners, Balderton, Cherry Ventures, DST Global Partners, Brevan Howard Macro Venture, Lightspeed, DTCF, redalpine, Leitmotif, Elaia, CDP Venture Capital, Bayern Kapital, and the EIC Fund.
German energy company RWE became an investor just months after signing an agreement with Proxima to partner on building the first stellarator fusion power plant on the site of a former nuclear fission power plant in Gundremmingen, Bavaria.
