Munich-based Proxima Fusion, the first spin-out from the Max Planck Institute for Plasma Physics
(IPP), announced that it has raised €20M in a seed funding round led by redalpine and
oversubscribed.
The Bavarian government-backed Bayern Kapital, German government-backed
DeepTech & Climate Fonds, and the Max Planck Foundation also participated in the funding.
Existing investors, including Plural, UVC Partners, High-Tech Gründerfonds, Wilbe, and
TOMORROW of Visionaries Club, have doubled down on their pre-seed investments.
The company will use the funds to build the first generation of fusion power plants based on quasi-isodynamic (QI) stellarators with high-temperature superconductors.
https://siliconcanals.com/news/startups/germanys-proxima-fusion-bags-20m/
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