KF: Kyoto fusion components developer attracts US VC firm, total funds reach $96.4M

See the original story in Japanese. Kyoto Fusioneering, a developer of key components for fusion reactors, announced on Tuesday that it has completed its second Series C extension round, raising 1.07 billion yen (about $7 million US). This round saw participation from four parties, including US venture capital firm In-Q-Tel (IQT), Nichicon (TSE: 6996), and Marubeni Corporation (TSE: 8002). With this latest funding, the total amount raised in the Series C round reached 13.13 billion yen ($85.6 million US), bringing the company's funding sum up to date to 14.81 billion yen ($96.4 million US). This follows the company's first close of the series C round back in April. The funds will be used to accelerate investment in technology development, including UNITY-1 and UNITY-2, to promote global business expansion and recruitment activities, and to secure working capital for large project orders and business growth. According to the company, the landscape surrounding fusion energy is rapidly evolving. In Japan, fusion energy has been reincorporated into the government's growth strategy, with plans to strengthen public and private sector development capabilities, promote international collaboration, and demonstrate power generation in the 2030s. Additionally, the Japanese and U.S. Departments of Energy have formed a strategic partnership,...