Realta Fusion, a Madison, WI-based startup which specialises in fusion energy, raised $12M in funding.
The company raised a seed investment of $9m led by Khosla Ventures with participation from The Wisconsin Alumni Research Foundation (WARF), through which Realta licensed its core technology, also participated in the seed round. It also received an award of $3m from the US Department of Energy’s Fusion Development Program.
The startup intends to use the funds to build out its team and complete the physics design for its device, BEAM.
Led by CEO Kieran Furlong, Realta Fusion is an early-stage fusion energy company which is developing compact magnetic mirror fusion generators targeting the need to decarbonize industrial process heat as the fastest path to full-scale deployment of this technology. The company, which spun out of a large ARPA-e funded project at the University of Wisconsin-Madison, is targeting industrial heat and power as an early application for its fusion technology in which the ability to operate at a wide range of scales is a significant advantage.
FinSMEs
01/06/2023