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825 European VCs just made a record bet on this fusion energy underdog

The Next Web
Siôn Geschwindt @ The Next Web 1 place · 06/11/2025 12:36 EDT

European VCs just made a record bet on this fusion energy underdog

Two years ago, German startup Proxima Fusion emerged from stealth with big ambitions to make a little-known stellarator fusion machine a serious contender in the race for commercial fusion energy. Today, the Munich-based company secured Europe’s largest-ever private investment in fusion power — a €130mn Series A funding round from big-name investors including Balderton Capital, Cherry Ventures, and Plural.  Daniel Waterhouse, partner at Balderton Capital, said he now thinks Proxima has taken its place as th

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