TL;DR: Insights from Fusion Startups Raising Over $100M
By 2026, nuclear fusion startups secured over $7 billion in funding, with leaders like Commonwealth Fusion Systems, TAE Technologies, and Helion Energy raising $3B, $1.79B, and $1.03B respectively. Backed by tech giants and VCs, they employed groundbreaking technologies such as Tokamak reactors and AI-driven designs.
• Fundraising strategies included emphasizing milestones, addressing global challenges like climate change, and mixing investors (VCs, corporates, and governments).
• Lessons for founders: Create a vision-driven narrative, show measurable progress, and align with global issues.
For your startup, adapt their methods to attract investment while solving complex global problems!
Every fusion startup that has raised over $100M
As a European female founder and startup mentor, I see value in understanding how strategic industries are attracting funding. Fusion power isn’t just scientific hype, it presents a growing ecosystem revolutionizing clean energy. In 2026, startups worldwide raced to crack nuclear fusion through varied and ambitious approaches, each securing over $100 million in funding. Investor interest came from global tech giants like Google and Microsoft, alongside large venture capital companies.
Here’s how you, as founders or investors, can learn from their fundraising strategies and position yourself effectively in sectors with complex science narratives.
What fusion startups achieved in funding by 2026?
Fusion startups collectively raised $7.1 billion by the end of 2025, with funding spikes driven by scientific breakthroughs and the promise of commercialization. Key players, like Commonwealth Fusion Systems, are aiming for operational demonstration plants by late 2026, satisfying both scientific and interest-based investment markets. Funding rounds often broke new records in terms of valuation and cross-collaboration between tech founders, enhancing market opportunity for related sectors like materials handling and AI simulation technology.
- Commonwealth Fusion Systems: Dominated the funding landscape with $3 billion.
- TAE Technologies: Pre-merger raised $1.79 billion, combining forces with Trump Media ($6B valuation).
- Helion Energy: Worked towards achieving scalable electricity generation by securing $1.03 billion.
- Proxima Fusion: Raised €185M with a spotlight on stellarators.
- Xcimer: Surprised the field with $100M in funding utilizing molten salt protection technologies.
Investors included global powerhouses like Sam Altman and Peter Thiel, as well as energy heavyweights like Chevron and Temasek. The sector appeals to a unique mix of scientific credibility and future-facing climate solutions.
What are their groundbreaking technologies?
The competing designs across these startups showcase how diverse the race for fusion energy is. Here is a brief overview:
- Tokamak Designs: Companies like Commonwealth Fusion Systems use high-temperature superconducting magnets to create plasma rings that enable sustainable fusion reactions.
- Field-Reversed Configuration Reactors: Helion Energy’s approach, which directly converts fusion energy into electricity, aims to solve technical inefficiencies seen with tokamak systems.
- Inertial Confinement: Marvel Fusion leads laser-targeting techniques that compress plasma with extreme precision.
- Stellarators: Proxima Fusion takes on the twisted magnetic field reactor design, promising better efficiency and stability.
- Projectile Methods: First Light Fusion and Xcimer pursue impact-based technologies using projectiles or other advanced compression systems.
How to apply their fundraising approaches?
Fusion startups are masters of storytelling, to raise millions, they don’t just sell technology; they sell a vision for humanity’s future. As a founder, you can adapt these tactics whether you’re in AI, deeptech, or another science-driven sector. Here’s how:
- Leverage milestones: Investors responded well to companies that broke down scientific advancements into measurable goals, rewarding them for successful steps toward commercialization.
- Round staging: Invested capital often came in tranches, tied to verifiable achievements. This injects accountability into science-heavy sectors.
- Align with global needs: Fusion startups directly addressed climate concerns. Similarly, frame your solution around timely global issues like health, AI ethics, or climate.
- Diversify backers: Successful rounds included a mix of venture capitals, tech leaders, government bodies, and strategic corporate partnerships.
Common mistakes to avoid
- Overpromising timelines: Fusion startups faced backlash when timelines for commercialization didn’t align with realistic projections.
- Ignoring public partnerships: Government backing provided invaluable funding to promising startups. Not tapping into subsidies could mean leaving money on the table.
- Weak data presentation: Transparent scientific results, even failures, create trust among investors. Avoid ambiguity.
Conclusion: Lessons for founders
Nuclear fusion startups have taught us how to navigate complex funding landscapes while aiming high. By crafting narratives around measurable milestones, integrating partnerships, and adapting to changing global needs, businesses can establish themselves as crucial contributors to progress.
Founders, especially in science and deeptech fields, should pay attention to these strategies and apply them thoughtfully. Don’t forget, success lies equally in technology and storytelling.
FAQ on Fusion Startups with Over $100 Million Funding
What are the top fusion startups that have raised over $100 million?
In 2026, notable fusion startups include Commonwealth Fusion Systems, which has raised nearly $3 billion, and Helion Energy, which secured $1.03 billion for its scalable electricity generation technology. Other key players are TAE Technologies, which raised $1.79 billion pre-merger with Trump Media, Proxima Fusion with €185M for stellarators, and Xcimer, which received $100M backing molten salt technologies. Funding spikes in the sector have been driven by technological breakthroughs and investor confidence. Discover fusion startup insights
Which groundbreaking technologies are driving fusion startups?
Fusion startups employ various approaches, including Tokamak designs by Commonwealth Fusion Systems, field-reversed configuration reactors by Helion Energy, inertial confinement lasers by Marvel Fusion, and stellarators by Proxima Fusion. Novel methods like Xcimer's molten salt protection and First Light Fusion's projectile impact highlight the diversity in the fusion ecosystem. These innovations promise scalable, clean energy solutions by addressing technical inefficiencies in plasma confinement and energy conversion systems. Explore fusion technologies
What is driving investor interest in nuclear fusion startups?
Investor interest in fusion startups stems from their positioning as both science-driven enterprises and future-focused climate solutions. Companies like Google, Chevron, and Microsoft are investing heavily in fusion, attracted by the deep scientific credibility and the ability to address global energy needs sustainably. These startups often leverage scientific breakthroughs to build compelling narratives around commercialization timelines, fostering optimism among venture capital firms and corporate backers.
Why is Commonwealth Fusion Systems a leader in fusion funding?
Commonwealth Fusion Systems (CFS) leads the fusion funding race with nearly $3 billion raised. Known for using Tokamak designs and high-temperature superconducting magnets, CFS aims to operationalize its Sparc demonstration plant by late 2026. Its partnership with MIT and backing from Breakthrough Energy Ventures, Bill Gates, and tech giants like Google have solidified its dominant position. Learn more about Commonwealth Fusion Systems
How do fusion startups influence global energy discussions?
Fusion startups are reshaping energy conversations by demonstrating the role of nuclear fusion in fulfilling climate targets. These companies contribute to critical scientific advancements while addressing rising demand for renewable energy. With large corporations engaging in partnerships and signing power agreements, the narrative has shifted to viewing nuclear fusion as a pivotal clean power source that could achieve profitability and scalability in the coming decades.
What challenges do fusion startups face in commercialization?
Fusion startups encounter hurdles like technical inefficiencies, scalability problems, and commercialization timeline constraints. Overpromising results leads to investor skepticism, while delays in achieving breakeven energy production can threaten funding. Companies mitigate risks through verifiable scientific milestones, diversified investor pools, and government-backed subsidies. Transparency in presenting challenges is crucial for maintaining trust among investors.
How are fusion startups leveraging funding strategies?
Fusion startups excel in storytelling and milestone-driven fundraising. Commonwealth Fusion Systems, for instance, uses its scientific advancements to attract large tech partnerships and staggered funding rounds tied to milestones. Startups enhance credibility by aligning their projects with global priorities like climate change and diversifying their investor pools, including venture capital, government subsidies, and corporate financing. Check out fusion investment trends
Which startup successfully incorporates stellarator technology?
Proxima Fusion stands out by focusing on stellarator technology, a reactor design utilizing twisted magnetic fields for enhanced stability and efficiency compared to traditional Tokamaks. With €185M funding, Proxima aims to commercialize this innovative concept by leveraging advancements seen in German research reactors. Its growing portfolio attracts strategic partners and funds for scaling its cutting-edge operations. Learn about Proxima Fusion’s stellarator approach
Are any fusion startups working closely with tech leaders like Microsoft?
Yes, Helion Energy has entered partnerships with Microsoft, intending to deliver electricity by 2028 using its field-reversed configuration reactors. With a direct approach to converting fusion energy into electricity, Helion has raised $1.03 billion, positioning itself as a key figure in the fusion-to-electricity transition. Investors like Sam Altman and Peter Thiel have also contributed to its funding success. Discover Helion Energy’s partnership with Microsoft
What key lessons can be learned from fusion startup strategies?
Fusion startups teach valuable lessons in aligning narratives with global needs, dividing funding into milestone-driven stages, and diversifying backer profiles to include tech firms, venture capitalists, and government bodies. Founders in other industries, especially science-driven sectors, can emulate these strategies to build trust, gain traction, and secure sustainable funding despite technological complexity. By focusing equally on storytelling and milestones, startups can maximize their growth potential.
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the “gamepreneurship” methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the point of view of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.