German nuclear fusion startup Proxima Fusion has raised €411 million in a funding round that values the company at €2.4 billion. Backed by investors including Google and energy firm RWE AG, the three-year-old company is developing a nuclear fusion plant that it hopes will be operational in the 2030s, signaling significant investor confidence in the future of fusion energy.
Proxima Fusion funding round
- ▪German startup Proxima Fusion has raised €411 million ($469 million) in a new financing round
- ▪The financing round was led by XTX Ventures and the London-based firm East X Ventures
Nuclear fusion plant development
- ▪Proxima Fusion is developing a nuclear fusion plant
- ▪The company hopes its nuclear fusion plant will be operational in the 2030s
Investor composition
- ▪XTX Ventures is the investment arm of Alex Gerko’s algorithmic trading firm XTX Markets Ltd.
- ▪Investors in Proxima Fusion include the German national energy firm RWE AG and Alphabet Inc.’s Google
Company valuation
- ▪Proxima Fusion announced the deal on July 7, 2026
- ▪A new funding deal gives the three-year-old energy firm Proxima Fusion a valuation of €2.4 billion
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