Proxima Fusion secures additional 15 million euros in Series A expansion
Munich-based deep-tech startup Proxima Fusion, Europe's fastest growing fusion energy company, announces the expansion of its Series A financing round by 15 million euros. This brings the total funding to 200 million euros (230 million US dollars).
The round was led by CDP Venture Capital (part of the Cassa Depositi e Prestiti Group, Italy's largest VC investor), the European Innovation Council Fund (EICF) and the Brevan Howard Macro Venture Fund. CDP invested via the Large Ventures and Corporate Partners I Energy Tech funds, the latter specifically for energy transition technologies.
Europe unites behind fusion energy
With EICF's investment, the public shareholding in Proxima continues to grow. The Deep Tech & Climate Fund (DTCF), the High-Tech Gründerfonds (HTGF), Bayern Kapital and the Max Planck Foundation were already involved.
Fusion energy can promote technological independence, strengthen industrial competitiveness and accelerate the growth of a CO₂-neutral economy. We are convinced that Proxima will deliver and change the global energy landscape.
Alessandro Scortecci, CIO Direct Investments, CDP
The EICF's renewed investment follows a €2.5 million grant. Italy's investment underlines that fusion energy is seen as a key strategic technology for Europe's energy sovereignty and competitiveness.
Based on the Wendelstein 7-X experiment, we are building a pan-European team to put Europe at the forefront of the global fusion race.
Francesco Sciortino, CEO and Co-Founder Proxima Fusion
Proxima goes into implementation
Just three months after the largest European financing round for fusion energy, the team has already grown to 100 employees. The new funds flow directly into industrial steps, including
- High-temperature superconductor tape (HTS) for the long-term supply of the magnet program
- Structural plates for the first non-planar HTS magnet, the Stellarator Model Coil (SMC)
- In-house production line for cables to accelerate R&D
- Dummy coils and prototypes of vacuum vessel segments as proof of concept
The aim is to complete the SMC by 2027. In parallel, the team is working on the design of the "Alpha" demonstration stellarator, which will deliver net energy gains for the first time. Possible locations in Europe are also being examined.
With the extended Series A round, Proxima Fusion is increasingly becoming the European flagship project for fusion energy. Public and private investors from all over Europe are joining forces to advance a key technology that could permanently change the energy market and climate policy. As recently as June 2025, we reported on the Series A of Proxima Fusion on the Startbase.
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