Funding round
Pacific Fusion Series A
Pacific Fusion, which works in fusion energy system manufacturing in Fremont, raised $900M in a Series A round announced on 25 Oct 2024, led by General Catalyst. 11 firms took part.
$900M
Amount raised
Not disclosed
Post-money valuation
11
Investors
1 lead
Valuation
What this round says about the price
Pacific Fusion did not disclose a valuation in this round. It is Pacific Fusion's first venture round on record, 1 year after it was founded in 2023. No later venture round is on record for Pacific Fusion.
Pacific Fusion's funding rounds
This is the only venture round on record for Pacific Fusion.
- Series A this round 25 Oct 2024, led by General Catalyst $900M
Investors
Who put money in
General Catalyst led the round with 10 other firms.
Lead investor
- General Catalyst backs 574 venture-backed companies new investor
Also in the round
- Breakthrough Energy backs 113 venture-backed companies new investor
- Lightspeed new investor
- Lowercarbon Capital backs 110 venture-backed companies new investor
- backs 8 venture-backed companies new investor
- backs 29 venture-backed companies new investor
- backs 26 venture-backed companies new investor
- Stripes backs 101 venture-backed companies new investor
- M12 backs 141 venture-backed companies new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
- Innovation Endeavors backs 110 venture-backed companies
Joined the board: Hemant Taneja (General Catalyst), Eric Schmidt and Patrick Collison (Stripe).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
26 Series A rounds in Renewable energy companies within a year either side disclosed an amount; the median was $19M, and this round was 47 times the median. The closest in time, other companies' Series A rounds in Renewable energy companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Renewable energy companies | 23 Oct 2024 | $6.0M | not disclosed | HMC Capital and BlueScopeX |
| new cleo Renewable energy companies | 30 Sep 2024 | $148M | not disclosed | Inarcassa and Walter Tosto |
| Renewable energy companies | 13 Sep 2024 | $62M | not disclosed | Energy Impact Partners |
| Renewable energy companies | 3 Sep 2024 | $17M | not disclosed | not named |
| Renewable energy companies | 10 Sep 2024 | $15M | not disclosed | 92 Ventures and ARMADA Investment |
| Renewable energy companies | 11 Sep 2024 | $14M | not disclosed | Atomico |
| Renewable energy companies | 1 Aug 2024 | $5.4M | $34M | Spectrum Impact |
| Renewable energy companies | 27 Jun 2024 | $34M | not disclosed | AP Ventures |
Sources
Where this comes from
Reported by 6 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Pacific Fusion raise in its Series A round?
Pacific Fusion raised $900M in its Series A round, announced in Oct 2024.
Who led Pacific Fusion's Series A round?
General Catalyst led it, with Breakthrough Energy, Lightspeed, Lowercarbon Capital, Leitmotif and Trousdale Ventures and 5 more.
What was Pacific Fusion's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Renewable energy companies?
26 Series A rounds in Renewable energy companies within a year either side disclosed an amount; the median was $19M, and this round was 47 times the median.