Series A extension · Climate tech
Proxima Fusion adds €15 million in Series A extension
New institutional backing supports hardware procurement for the company’s stellarator magnet programme.
The extension brings in CDP Venture Capital’s Large Ventures and Corporate Partners I Energy Tech funds, the EIC Fund and Brevan Howard Macro Venture Fund. It follows the initial €130 million Series A close and takes total company funding to €200 million.
Proxima has placed orders for superconducting tape, structural components and an in-house cable manufacturing line. These purchases support its model-coil programme and prototyping of the hardware needed for a demonstration stellarator.
Use of funds
Procure superconducting tape and structural components
Build an in-house cable manufacturing line
Develop model-coil and vacuum-vessel prototypes
Funding history
Series A extension · This round€15M
Series A€130MBMBF research grant€6.5MSeed€20MPre-seed extensionUndisclosedPre-seed€7M