Munich-based Proxima Fusion raises €411 million to accelerate nuclear fusion technology development
Munich-based Proxima Fusion secured €411 million in a €2.5 billion valuation round led by XTX Ventures and East X Ventures, with Google as a notable investor. The funding will accelerate development of its nuclear fusion technology, including the Alpha stellarator project. The company aims to secure additional €1.2 billion from the German federal government for commercialization.