Commonwealth Fusion Systems Raises $84M Funding Round

May 26, 2020Client News

Gunderson Dettmer client Commonwealth Fusion Systems, a company focused on commercializing fusion energy, raised its Series A2 financing. The $84 million funding round was led by Temasek.

In the announcement of the transaction, CEO Bob Mumgaard said, “Even in these challenging times, we are thrilled to have this group of new investors including a global investment company and a world-leading energy company committed to the long-term investment in commercial fusion, enabling CFS to remain aggressive in building the first net-energy fusion machine as fast as possible. This funding is further evidence of a growing fusion industry and the important transition that is taking place as fusion expands from public-funded research to the private companies that will drive commercial fusion to market to help solve climate change.”

The Gunderson Dettmer deal team was led by David Gammell and included Brian Huber, Samantha Gross, Vanessa Smith and Jace Clegg.