With a new $100M raise, Princeton’s Thea Energy is now a top-funded fusion startup

Thea Energy raised an oversubscribed $100 million Series B led by the U.S. Innovative Technology Fund, bringing total private funding to $130 million.

The Princeton spinout plans to expand magnet manufacturing and begin building its Eos demonstration device next year.

The company says its software-tuned magnet design could simplify stellarator construction and improve manufacturing economics.

Thea is targeting a commercial fusion reactor in 2034, strengthening its position in the capital-intensive fusion race.