Nuclear fusion startup Pranos Fusion announced today that it has raised $6.8 million in a new funding round with proceeds aimed at accelerating the development of its technology to help advance the commercialization of fusion energy.

Fusion, the process of combining two atoms to form a single atom to release energy, has been long referred to as the “Holy Grail” of clean and abundant energy production, given its potential to produce power from hydrogen – the most common element in the universe – without producing carbon emissions associated with fossil-fuel based power, and without the highly radioactive output of nuclear fission processes. Large scale fusion energy generation has been elusive, however, given the need to create extremely high temperatures and pressure.

Founded in 2024 by Shaurya Kaushal and Roshan George, India- based Pranos is developing technology to address some of the key challenges to commercializing fusion energy, with a focus on “tokamak” technology, the machine in which plasma is confined using magnetic fields to achieve the conditions necessary for fusion. While most tokamak designs are doughnut-shaped, Pranos’ “PRAGYA” design is a low-aspect-ratio, medium-scale tokamak, which offers performance advantages. The company’s solutions also include its “JENGA” tokamak design and control software, and its MAGGA High-Temperature Superconducting (HTS) magnets that create stronger fields that enhance tokamak performance while maintaining efficiency with more compact reactor architectures.

According to Pranos, its technology integrates advanced plasma control systems with high-temperature superconducting (HTS) magnets, enabling longer plasma confinement times and stronger magnetic fields, resulting in a significantly smaller physical footprint.

Shaurya Kaushal, Co-founder and CEO of Pranos Fusion, said:

“We stand on the shoulders of brilliant fusion physics. Now, the world needs the commercial infrastructure to bring it to the grid—the technology to design, construct, and operate fusion power plants at scale. At Pranos, we are building exactly that, and we are beginning our contribution today, from India.”

The company said that the new funding will be used to accelerate its three core technology verticals, with first plasma for its prototype PRAGYA compact fusion reactor scheduled for later this year.

The funding round was co-led by pi Ventures and Ankur Capital, with participation from existing investor Industrial47, alongside Lalit Keshre, the founders of Razorpay, and Bhukhanwala Industries.

In a post announcing its investment, pi Ventures said:

“Fusion is a quintessential  deeptech challenge that we strive to back: high-barrier, high-impact, and inherently global. Our investment in Pranos aligns with India’s long-term imperative to build sovereign capability in critical energy technologies.”