Funding round
Commonwealth Fusion Systems Series A
Commonwealth Fusion Systems, which works in fusion power plant manufacturing and delivery in Harvard, raised $84M in a Series A round announced on 26 May 2020, led by Temasek. 13 firms took part, 11 of them already investors. It is Commonwealth Fusion Systems' first venture round on record.
$84M
Amount raised
Not disclosed
Post-money valuation
13
Investors
1 lead
Valuation
What this round says about the price
Commonwealth Fusion Systems did not disclose a valuation in this round. It is Commonwealth Fusion Systems' first venture round on record, 2 years after it was founded in 2018. It is 4.3% of the $1.95B Commonwealth Fusion Systems has raised in the venture rounds on record. Commonwealth Fusion Systems raised again 63 months later: a Series B round of $863M in Aug 2025.
Investors
Who put money in
Temasek led the round with 12 other firms. Temasek, Breakthrough Energy, The Engine and ENI Next LLC and 7 more had backed Commonwealth Fusion Systems before.
Lead investor
- Temasek backs 195 venture-backed companies existing investor
Also in the round
- Equinor new investor
- Devonshire Investors new investor
- Breakthrough Energy backs 113 venture-backed companies existing investor
- backs 24 venture-backed companies existing investor
- ENI Next LLC existing investor
- backs 41 venture-backed companies existing investor
- Hostplus existing investor
- Khosla Ventures backs 396 venture-backed companies existing investor
- Moore Strategic Ventures existing investor
- backs 33 venture-backed companies existing investor
- backs 18 venture-backed companies existing investor
- backs 17 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series A rounds in Electric Supplies & Power Generation within a year either side disclosed an amount; the median was $10M, and this round was 8.2 times the median. The closest in time, other companies' Series A rounds in Electric Supplies & Power Generation:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Electric Supplies & Power Generation | 12 May 2020 | $10M | not disclosed | ArcTern Ventures |
| Electric Supplies & Power Generation | 28 Apr 2020 | $13M | not disclosed | Soros Fund Management and Siemens |
| Electric Supplies & Power Generation | 28 Sep 2020 | $4.9M | not disclosed | InnoEnergy |
| Electric Supplies & Power Generation | 23 Mar 2021 | $2.8M | not disclosed | not named |
| Turntide Electric Supplies & Power Generation | 25 Jun 2019 | $31M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Commonwealth Fusion Systems raise in its Series A round?
Commonwealth Fusion Systems raised $84M in its Series A round, announced in May 2020.
Who led Commonwealth Fusion Systems' Series A round?
Temasek led it, with Equinor, Devonshire Investors, Breakthrough Energy, The Engine and ENI Next LLC and 7 more.
What was Commonwealth Fusion Systems' valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Electric Supplies & Power Generation?
5 Series A rounds in Electric Supplies & Power Generation within a year either side disclosed an amount; the median was $10M, and this round was 8.2 times the median.
Did Commonwealth Fusion Systems raise again after this round?
Yes: a Series B round in Aug 2025 of $863M.