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 the leading “European contender” in the global race to commercial fusion. Proxima was the first company to spin out from the Max Planck Institute of…

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