Proxima Fusion, a Munich-based fusion startup developing stellarator technology, raises €411 million in a private financing round. Multiple outlets describe the round as the largest private fusion financing in Europe and value the company at about €2.4 billion. The funding brings new strategic backers, including Google and German utility RWE, and also includes other investors such as XTX Ventures. The reported transaction is positioned as additional support for a technology that has not yet generated commercial electricity. Proxima Fusion uses a stellarator approach, and the investment is intended to strengthen its development and commercialisation efforts. While sources highlight the size of the round and the company’s valuation, they also note that fusion projects are still in development stages, with no watt of commercial power produced to date. Overall, the coverage characterises the financing as a significant vote of confidence from major technology and energy players in long-term fusion research and industrialisation.