Seed · Climate tech
Proxima Fusion raises €20 million seed round led by Redalpine
The Munich company is expanding its engineering team and work on superconducting stellarator technology.
The seed financing follows Proxima’s first year developing integrated engineering and simulation tools for fusion power plants. Its StarFinder framework supports design work on quasi-isodynamic stellarators and high-temperature superconducting magnets.
The oversubscribed round brings new institutional backers alongside returning investors. Proxima plans to expand its team of engineers and physicists and strengthen public-private partnerships across Europe.
Use of funds
Expand the engineering and physics team
Develop stellarator hardware and software
Support European public-private partnerships