Helical Fusion raises $20.6M Series B second close, adds Fuji Electric as partner
What's the deal? Helical Fusion, a Japanese fusion energy company, has raised US$24.8M in a Series B second close. Fuji ElectricDealroom has a profile for this one. Try Dealroom →, one of Japan's major electrical and industrial equipment makers, joined as both an investor and an Official Partner of the company's Helix Program.
Who else is in? Other new backers include Hazama Ando CorporationDealroom has a profile for this one. Try Dealroom →, FujikuraDealroom has a profile for this one. Try Dealroom →, Tokyo GasDealroom has a profile for this one. Try Dealroom →, KKTDealroom has a profile for this one. Try Dealroom →, UrataDealroom has a profile for this one. Try Dealroom →, and Kepple GroupDealroom has a profile for this one. Try Dealroom →. The round also drew individual investors through Ecrowd NEXT, a fund built for retail participation.
What's the endgame? Helical Fusion is developing a Helical Stellarator, aiming for commercially viable fusion power in the 2030s. The capital will fund its Helix Program roadmap — an integrated demonstration device called Helix HARUKA, then Helix KANATA, its first fusion power plant.
By the numbers: Including grants and loans, cumulative funding has reached roughly US$101.2M. The round ranks in the 91st percentile for Series B deals in Japan.
Why Fuji Electric? Founded in 1923, the company brings expertise across power electronics, power generation, and nuclear-related technologies — capabilities needed to convert fusion energy into electricity. The two firms began working together in 2025, when Fuji Electric agreed to supply power equipment for Helical Fusion's high-temperature superconducting magnet development.
The signal: The backer list spans electrical equipment, energy, advanced materials, and infrastructure. That breadth reflects a shift toward treating fusion as a complete power generation system to be built, not just an experiment to be run.
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Image credit: jurvetson
