Fusion startups are those companies that are actively trying to master the expensive fusion power technology. It is the process to harness nuclear power. It is the same technology that powers the sun.
Fusion startups are trying to build a commercially viable fusion power plant and build a trillion-dollar market with an endless supply of power on earth.
The fusion energy will power computer chips, superconducting magnets, and AI technologies. When you put these together, you get a better fusion reactor with powerful simulations and access control.
For the first time in 2022, the U.S. Department of Energy lab announced that it successfully conducted a controlled fusion reaction and generated more power than the lasers.
This experiment is known as a scientific breakdown, yet it was quite far from commercial usage.
There are many fusion startups that have already raised millions in funding through stakeholders and investments.
Fusion Startups That Raised 100 Million in Funding:
Here are the top 5 fusion startups with 100 million in funding:
1. Commonwealth Fusion Systems:
Founded in 2017, Commonwealth Fusion Systems raised over 1 billion in the third round of funding. It has raised $3.94 billion in total.
In 2021, Commonwealth Fusion Systems raised $1.8 billion. It is operating in Massachusetts, building Sparc. It is a power plant that can produce power that is commercially viable.
The SPARC reactor is based on the tokamak design. It has a high-temperature superconducting tape. It generates magnetic fields that compress and contain plasma. The heat generated was converted into steam and a power turbine. CFS collaborated with MIT to design its magnets.
CEO and co-founder Bob Mumgaard worked as a researcher.
It is reported that Sparc will be operational in late 2026 or 2027. The company is also constructing Arc, which is a commercial power plant that can produce 400 megawatts of electricity. It will build a power facility in Richmond, Virginia. Google is already interested in buying half of its power output.
It has a long list of investors like Bill Gates, The Engine, Breakthrough Energy Ventures, etc.
2. Helion:
Helion was founded in 2013, and its first reactor will start producing electricity for consumers by 2028. It is an American nuclear fusion company based in Everett, Washington. It uses magnetic fusion generators known as field-reversed configuration. It produces zero-carbon electricity from plasma. It does not need steam turbines.
Helion’s first customer is Microsoft.
Helion raised $425 million in January 2025 and $465 million in June 2026. The company’s value is $15.5 billion. It has also raised $3.2 billion.
Its investors are Sam Altman, Capricorn Investment Group, Peter Thiel’s Mithril Capital Management, BlackRock, KKR, Reid Hoffman, and SoftBank Vision Fund 2.
3. TAE Technologies:
TAE Technologies, founded in 1998, is a California-based clean energy and private fusion company. Norman Rostoker is the founder. It uses beam-driven field-reversed configuration (FRC) plasma confinement systems utilizing hydrogen-boron. It delivers cost-effective, safe, and commercial fusion power.
In December 2025, TAE Technologies announced the merger with Donald Trump’s Trump Media & Technology Group. The current value of TAE Technologies is $6 billion.
TAE Technologies will also receive $200 million and $100 million after filing paperwork with the Securities and Exchange Commission. After the merger, TAE CEO Michl Binderbauer and Trump Media’s CEO, Kevin McGurn, work together as co-CEOs.
It has also raised $150 million in June 2025.
4. Pacific Fusion:
Pacific Fusion raised $1 billion in series A funding. It uses coordinated electromagnetic pulses to achieve fusion. 156 impedance-matched Marx generators will produce 2 terawatts for 100 nanoseconds.
It uses modular capacitor systems to discharge massive electrical current into small targets containing tritium and deuterium. It creates a magnetic field that heats and compresses hydrogen fuel to release energy.
CEO Eric Lander is the man behind the Human Genome Project. Will Reagan is the chief scientist. While it raised $1 billion in funding, it is not getting all the money in one go. Investors will pay in tranches.
5. Proxima Fusion:
Proxima Fusion also uses the tokamak design. It has the Wendelstein 7-X reactor in Munich, Germany. It was founded in 2023.
Proxima Fusion raised funds worth $682.9 million. In July 2026, the company’s value reached $2.7 billion.
Its stellarators work similarly to tokamaks. It uses magnets to confine plasma with a twist. It does not use human-made rings. It twists and bulges the plasma. It will complete Alpha by 2030 and Stellaris.
Proxima Fusion investors are XTX Ventures, East X Ventures, Cherry Ventures, Balderton Capital, RWE, and Google.
Conclusion:
These are the top fusion startups that raised more than 100 million in funding. Have you invested in any of these? Let me know via comments.
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