Market & RegulationInvestment · €411M

Google backs Proxima Fusion in €411m raise

SiftedJuly 7, 2026high confidence

Why it matters

→Proxima Fusion's funding highlights the growing momentum in nuclear fusion as a clean energy source.
→Google's investment signals increased interest from major tech companies in European fusion initiatives.
→The development of the stellarator could position Europe as a leader in the global fusion energy race.

Google backs Proxima Fusion in €411m raise — ©Sifted

Proxima Fusion, based in Munich, has raised €411 million in a funding round led by XTX Ventures and East X Ventures, with participation from Google and other investors. This investment values the company at €2.5 billion and will be used to develop a stellarator for nuclear fusion. The project, named Alpha, aims to demonstrate the potential of fusion energy by the early 2030s. Google's involvement marks its first investment in a European fusion company, highlighting the growing interest in fusion as a clean energy source.

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The story around this

Earlier coverage that leads up to this article, and what followed. Lines connect each piece to the closest one after it, converging here.

How we got here

1
Google to Pay SpaceX $920M Monthly for Compute
TechCrunch AI · June 5, 2026 · Background

What happened next

2
Nvidia backs Gradium, voice AI startup raises $100M
Sifted · July 8, 2026 · Background
3
Gradium raises $100M seed round backed by Nvidia
TechCrunch AI · July 9, 2026 · Background
4
Space Tech Startup Funding Reaches Record Highs
Crunchbase News · August 28, 2026 · Background
5
Ex-Google DeepMind duo raise €3.2M for fusion software
Sifted · September 9, 2026 · Related
6
Nuclear Startup Funding Hits Record $6B Amid IPO Slump
Crunchbase News · October 1, 2026 · Background

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