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First Light Fusion

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Inspired by the only natural example of inertial confinement on Earth, First Light Fusion is developing a practical pathway to fusion energy using the simplest machine possible

Yarnton, United KingdomFounded 2011Energy
Valuation $100–250M Last recorded · 2026
Revenue <$1M Latest reported FY
Headcount <100 Current team size
Total funding $100–500M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for First Light Fusion and the history behind them.

About First Light Fusion

First Light Fusion is a groundbreaking startup that operates in the energy sector, specifically focusing on fusion power. Their unique approach, known as projectile fusion, aims to provide a simpler, more energy-efficient solution to fusion power. This technology has been proven through a world-first result, demonstrating fusion with a projectile for the first time.

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The company's mission is to create the simplest machine possible to solve the problem of fusion power. They aim to develop a technology that can scale and fit with existing power plant engineering. Their unique target designs, consisting of an amplifier and a fuel capsule, are the key to their technology. The amplifier increases the pressure of the projectile impact and creates convergence, focusing shockwaves onto the fuel capsule.

To test their target designs, First Light Fusion uses two-stage gas guns. However, to achieve higher velocities, they rely on electromagnetic launch, similar to a railgun, achieved with their pulsed power machines. Their research is supported by simulation tools that allow for rapid design optimization, and they place a strong emphasis on verification and validation.

Their power plant concept uses a liquid first wall, with pure natural lithium as the working fluid. This approach can be built with existing nuclear technology and avoids some of the significant engineering challenges of fusion, like neutron damage and producing enough tritium.

In terms of their business model, First Light Fusion is a research and development company. They make money by developing and potentially licensing or selling their technology to larger energy companies or governments interested in cleaner, more efficient power sources.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2011
Headquarters
Yarnton, United Kingdom
Employees
82
Open positions
3
Dealroom signal
70.1/100
Sub-industry
Clean Energy
Sector
Energy, Spinout, Sustainable Development Goals, Nuclear Fusion, Climate Tech, Novel Energy, Hard Tech, NIF defense security and resilience, NIF energy, NIF Energy Security and Climate Change, DT and LS
Technology
Deep Tech
Business model
Manufacturing
Client focus
b2b

Funding history

9 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
LATE VCOther financing Apr 2026 $34M $225M IP Group · Hostplus · UK Atomic Energy Authority · East X Ventures ↗
SERIES COther financing Feb 2022 $45M $180M IP Group · Tencent · Hostplus · Bravos Capital ↗
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Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

YearRevenueGrowthEBITDAMargin
2026
2025
2024
2023
2022
2021 —
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Growth signals

First Light Fusion website traffic

Latest recorded traffic for First Light Fusion is 7K monthly website visits, up 4.5% over the last three months. First Light Fusion's team declined 4.7% over the past year.

Latest monthly visits7K 3-month web change+4.5% 1-year team growth-4.7%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Similar companies

Closest operating peers by Dealroom taxonomy

Company identity and context are open; selected comparison metrics preview what is available on the platform.

Showing 8 of the closest matchesCompare every metric →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

11 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series A1 investor entered at this stage

  • Parkwalk Advisors

Series B and later8 investors entered at this stage

  • IP Group
  • Oxford Science Enterprises
  • Hostplus
  • Salica Investments
  • Tencent
  • Bravos Capital
  • UK Atomic Energy Authority
  • East X Ventures

Other known investors2 additional known investors

  • Oxford University Innovation
  • University of Oxford
Team profiled 12 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 6 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
3 countries with
team presence
🇬🇧 United Kingdom96.4%
🇩🇪 Germany1.8%
🇨🇭 Switzerland1.8%
3 countries shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about First Light Fusion on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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