Proxima Fusion Extends Series A to €200 Million Total Funding as it Accelerates into Hardware Execution

Proxima Fusion, Europe's fastest-growing fusion company, led by Francesco Sciortino, Lucio Milanese, Jorrit Lion, Martin Kubie, Jonathan Schilling, and others, has announced an extension to its Series A round with new funding from CDP Venture Capital(Cassa Depositi e Prestiti Group), Italy's largest venture capital operator, the European Innovation Council Fund (EICF), and Brevan Howard Macro Venture Fund.

The €15 million Series A extension raises Proxima's total funding to €200 million ($230M), reinforcing its role as Europe’s flagship fusion pioneer and highlighting the need for a sovereign European fusion company.

Three months after closing Europe’s largest fusion round, Proxima has grown 20% to 100 employees and is channeling new capital into industrial action. Major purchase orders include HTS tape for its magnet program, structural plates for the Stellarator Model Coil, an in-house cable line to boost R&D, and full-scale dummy coils and vessel sections to validate design, manufacturing, and assembly processes.

The latest funding accelerates Proxima’s path to the Stellarator Model Coil (SMC), aimed for 2027 to de-risk key HTS magnet technologies. In parallel, the team is finalizing the design of Alpha, its net energy gain demo stellarator, while assessing potential build sites across Europe.