Fusion power startups have collectively raised $7.1 billion in private capital, according to data provided to TechCrunch by FusionX. The majority of this investment has gone to a few key companies.
Commonwealth Fusion Systems (CFS) leads the sector in funding, having raised $3.94 billion. This includes a $1 billion round that closed in July. CFS is currently building its Sparc power plant in Massachusetts, which it expects to be operational in late 2026 or early 2027 and aims to reach scientific breakeven in 2027. The company plans to begin construction on Arc, a commercial power plant designed to produce 400 megawatts of electricity, later this decade, with Google agreeing to purchase half its output.
Helion has raised $3.2 billion in committed capital, including $465 million in a Series G round in June that valued the company at $15.5 billion. Helion, based in Everett, Washington, has an aggressive timeline, planning to produce electricity from its reactor in 2028, with Microsoft as its initial customer.
TAE Technologies, founded in 1998, had raised $1.65 billion prior to an announced merger in December 2025 with President Donald Trump’s social media company, Trump Media & Technology Group. The all-stock transaction would value the combined company at $6 billion.
Pacific Fusion has also secured over $1 billion in a Series A round, intending to use coordinated electromagnetic pulses for inertial confinement fusion.