Proxima Fusion Secures €411M in Funding at €2.4B Valuation

WHO:

Techmeme - Proxima Fusion is a Munich-based nuclear fusion startup.

Bloomberg - Investors include trading firm XTX, UK-based East X, national energy firm RWE AG, and Alphabet Inc.’s Google.

WHAT:

Techmeme - Proxima Fusion raised €411 million in funding.

Bloomberg - The funding round valued Proxima Fusion at €2.4 billion.

Bloomberg Markets - Proxima Fusion aims to develop a nuclear fusion plant.

WHERE:

Techmeme - Proxima Fusion is located in Munich, Germany.

WHEN:

Bloomberg Markets - Proxima Fusion hopes to have its nuclear fusion plant operational in the 2030s.

WHY:

Bloomberg - The funding is intended to support the development of a nuclear fusion plant.

HOW:

Techmeme - The funding was led by trading firm XTX and UK-based East X, with participation from Google.

(UPDATED July 7, 2026 10:10 UTC)

Proxima Fusion, a Munich-based nuclear fusion startup, has successfully raised €411 million in funding, which values the company at €2.4 billion. The funding round was led by trading firm XTX and UK-based East X, with participation from Google, and is aimed at supporting the development of a nuclear fusion plant. Proxima Fusion hopes to have this plant operational in the 2030s.