• Commonwealth Fusion Systems (CFS), an MIT spinoff and developer of fusion energy technology, has raised USD 1.8 billion in a Series B funding round led by Tiger Global Management. 

• The round was supported by new investors Bill Gates, Coatue, DFJ Growth, Emerson Collective, Footprint Coalition, Google, JIMCO Technology Fund, John Doerr, JS Capital, Marc Benioff's TIME Ventures, and Senator Investment Group. 

• Existing investors Breakthrough Energy Ventures, The Engine, Eni, Equinor Ventures, Fine Structure Ventures, Future Ventures, Hostplus, Khosla Ventures, Lowercarbon, Moore Strategic Ventures, Safar Partners, Schooner Capital, Soros Fund Management LLC, Starlight Ventures, and Temasek also participated. 

• The round brings CFS’s total funding to more than USD 2 billion. The company will use the proceeds to build and operate SPARC, the world’s first fusion energy machine, (expected to be operational by 2025). The funds will also be utilized to commence deployment of ARC, the first fusion energy power plant to commercialize fusion energy (expected to be completed by 2030). 

<ul><li> Analyst QuickTake: This is the highest amount raised by a fusion energy startup in a single round. With this raise, CFS also tops TAE Technologies as the highest-funded fusion energy company. CFS’s counterpart General Fusion also raised USD 130 million in Series E funding last week to further R&D efforts.</ul>