In a deal that underscores growing investor confidence in fusion energy, Hyderabad-based FusionX has raised $200 million in Series C funding led by Breakthrough Energy Ventures and India's sovereign wealth fund NIIF.
The startup, founded in 2022 by former ITER scientists Dr. Ravi Prakash and Dr. Meenakshi Sundaram, plans to use the funds to build India's first compact fusion reactor prototype at a dedicated facility near Shamshabad.
"Fusion energy is no longer science fiction — it is an engineering challenge, and we believe we have the team and technology to solve it," said Dr. Prakash. "Our approach using high-temperature superconducting magnets offers a shorter path to commercial viability."
The company aims to demonstrate net energy gain — producing more energy from fusion than is consumed to sustain the reaction — by 2029. If successful, it would position India alongside the United States and the UK at the forefront of fusion energy development.
The Indian government has signaled strong support for fusion research, including the technology in its critical and emerging technologies list and providing tax incentives for private fusion companies.
