News & Podcast

Munich startups expand to the UK: Microagi creates 180 jobs, Proxima Fusion grows. A new tech alliance aims to strengthen cooperation between both countries.

Munich fusion startup Proxima Fusion plans to build Europe’s first large-scale industrial manufacturing facility for fusion-grade high-temperature superconductor tape (HTS tape) in cooperation with the federal state of Lower Saxony.

Munich-based startup Proxima Fusion has won the German Founder Award 2026 in the “Startup” category. Founded in 2023, the deep tech company develops stellarator fusion power plants and just raised 411 million euros in fresh capital this July – at a valuation of 2.4 billion euros.

Proxima Fusion has raised €411 million in a Series A2 funding round and is valued at more than €2.4 billion. The financing makes the Munich-based startup the best-funded and highest-valued fusion company in Europe and is to advance the construction of the world’s first commercial stellarator fusion power plant.

Together with partners, the Munich startup Proxima Fusion wants to build a commercial fusion power plant. A demonstration reactor is to be built in Garching beforehand.

Fusion – that sounds like massive research facilities, decades of development time, and state billion-dollar projects. Francesco Sciortino wants to change that. With Proxima Fusion, he is building a startup in Munich that should bring nuclear fusion from basic research into industry – with the goal of realizing the first of its own fusion power plant in the 2030s. As part of the MSC Startup Hub, we spoke with the CEO. About a technological turning point, about billion-dollar investments, and about why fusion is suddenly becoming startup-ready.

The Norrsken Foundation has published its impact/100 list this year – and Munich is well represented: five startups from the Bavarian capital are among the world’s most important impact companies. They demonstrate how innovation and sustainability can work together.

Proxima Fusion expands its Series A funding round with 15 million euros. This brings total funding to 200 million euros. New investors from Italy and the EU strengthen the ambition to realize fusion power plants in Europe.

Munich-based startup Proxima Fusion secures 130 million euros in a Series A funding round – a record sum for European fusion energy. The goal is to build the first stellarator fusion power plant by 2030.

The Munich startup Proxima Fusion receives €6.5 million for a research partnership. The “AI for Fusion Engineering” program aims to advance the design of stellarator fusion power plants using AI.

The Europäische Kommission has selected 68 startups from 969 applications for support through the EIC Accelerator – including seven Munich startups. The funding pool, which is financed by a combination of grants and equity investments, comprises around 411 million euros.

Once a year, the World Economic Forum (WEF) selects 100 particularly promising startups that develop and implement new technologies and innovations. This year’s list of Tech Pioneers, which includes companies from around the world, also features four Munich startups.