Commonwealth Fusion Systems

Commonwealth Fusion Systems

A technology company developing fusion power systems based on ARC tokamak reactors.

Commonwealth Fusion Systems is a technology company developing fusion power systems based on ARC tokamak reactors that is headquartered in Cambridge, Massachusetts and was founded in 2017 by Martin Greenwald, Robert Mumgaard.

Funding

Series A

On June 27, 2019 Commonwealth Fusion Systems completed their series A funding round with $115 million in funding form Future Ventures, Khosla Ventures, Lowercase Capital, Moore Strategic Ventures, Safar Partners, Schooner Capital, and Starlight Ventures who join Eni, Breakthrough Energy Ventures, The Engine, and other investors. The CEO of Commonwealth Fusion Systems, Bob Mumgaard, made the following statement regarding the companies successful series A funding round:

This visionary group of investors share our mission of revolutionizing the energy landscape with a fundamentally new power source to meet our global demands and combat climate change. CFS is on track to commercialize fusion and deliver an inherently safe, globally scalable, carbon-free, and limitless energy source.

Timeline

May 2020

Commonwealth Fusion Systems raises a $84,000,000 series A round from Moore Strategic Ventures, Equinor Energy Ventures, Eni Next, Devonshire Investors, Starlight Ventures, Khosla Ventures, The Engine, HOSTPLUS, Future Ventures, Temasek Holdings, Schooner Capital and Breakthrough Energy Ventures.

June 2019

Commonwealth Fusion Systems raises a $115,000,000 series A round from Lowercase Capital, Khosla Ventures, Schooner Capital and Safar .

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Commonwealth Fusion Systems Series A, June 2019
Series A round
115,000,000
June 2019
Khosla Ventures
Lowercase Capital
Safar (company)
Schooner Capital
Commonwealth Fusion Systems Seed round, June 2019
Seed round
June 2019
Commonwealth Fusion Systems Series A round, May 2020
Series A round
84,000,000
May 2020
Temasek Holdings
Khosla Ventures
HOSTPLUS
Starlight Ventures
Schooner Capital
The Engine (venture capital)
Breakthrough Energy Ventures
Moore Strategic Ventures
Equinor Energy Ventures
Eni Next
Devonshire Investors
Future Ventures
Steve Jurvetson
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People

Name
Role
LinkedIn

Bob Mumgaard

Founder & CEO

David Chavarria Mendoza

Electro Mechanical Engineer Manufacturing

Jan Schroeder

Head of Document Control & Records Management

Michael Segal

Academic and Strategic Partnerships

Paul Costa

Talent Acquisition

Tancredi Botto

Technical Consultant

Further reading

Title
Author
Link
Type
Date

Commonwealth Fusion Systems Closes $115M Series A, Makes Our Inner Sci-Fi Nerds Happy

Web

June 28, 2019

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Jonathan Shieber
May 27, 2020
TechCrunch
Commonwealth Fusion Systems closed on its latest $84 million in new funding two weeks ago. The U.S. was still very much in the lockdown phase and getting a deal done, especially a multi-million dollar investment in a new technology aiming to make commercial nuclear fusion a reality after decades of hype, was "an interesting thing" [...]
FinSMEs
May 26, 2020
FinSMEs
About | Advertise | Contact | Disclaimer | News | The Daily Deal Newsletter FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Srividya Kalyanaraman
May 26, 2020
AmericanInno
The company promises to bring fusion power to market in 15 years.

References

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