Every fusion startup that has raised over $100M

Fusion startups have raised $7.1 billion to date, with funding concentrated among a limited number of companies. The article focuses on startups that have each raised more than $100M.

Investor interest in fusion remains strong, but capital is flowing mainly to perceived frontrunners with the scale to pursue commercialization. This concentration suggests the sector is entering a more mature, capital-intensive phase where technical milestones and financing access may increasingly determine winners.