TLDR:
- Hedosophia, led by Ian Osborne, raised $100 million for pre-revenue fusion-tech startup Xcimer
- Xcimer aims to supply the grid with fusion power within the next ten years
Financier Ian Osborne’s venture capital firm, Hedosophia, known for investing in software startups, made a significant move into the deep-tech space by leading a $100 million Series A round for pre-revenue fusion-tech startup Xcimer. Xcimer, founded in 2022, is focusing on developing a high-energy laser system to provide fusion power to the grid within the next decade. The funding round, which saw participation from prominent climate-tech investors, indicates a growing interest in fusion energy technology among venture capitalists. Xcimer plans to use the funds to build a new prototype laser facility in Denver and expand its team. This investment highlights the increasing momentum behind climate-tech investments and the potential for fusion energy to reshape the energy landscape in the coming years.
