Munich, Bavaria - Proxima Fusion, a European startup specializing in the design and development of optimized stellarator fusion reactors, announced today that it has successfully raised $7,479,000 in a pre-seed funding round. The investment was led by Plural, High-Tech Gründerfonds, and UVC Partners, three prominent venture capital firms with a strong track record in supporting innovative and disruptive technologies.

Proxima Fusion is pioneering the next generation of fusion power plants utilizing QI stellarators, which represent the most promising and robust concept for a fusion power plant. Leveraging decades of advancements in magnetic confinement fusion and incorporating key innovations, Proxima Fusion aims to accelerate the commercialization of fusion energy and contribute to a sustainable and carbon-free future.

The recent funding will enable Proxima Fusion to further develop and optimize its stellarator fusion reactors, leveraging advancements in stellarator optimization, computational design, and superconductivity. The company has also established a strategic partnership with the Max Planck Institute for Plasma Physics, drawing on the extensive expertise behind the renowned W7-X stellarator.

"We are thrilled to have received this significant investment from Plural, High-Tech Gründerfonds, and UVC Partners," said Francesco Sciortino, Co-Founder of Proxima Fusion. "This funding will allow us to accelerate our research and development efforts, bringing us closer to realizing our vision of fusion power as a clean, abundant, and sustainable energy source."