General Fusion just secured a $22M cash from existing backers, staving off collapse but falling far short of the $125M the Canadian nuclear fusion startup wanted. (TechCrunch)
General Fusion, which laid off 25% of staff in May, will use the funds to keep testing its LM26 prototype as it chases scientific breakeven.
Investors called the raise “the least amount of capital possible” to hit the next milestone—meaning unless LM26 delivers soon, the company could be back in trouble.