Funding · Government, Defense & Space

Pranos Fusion raises $6.8 Mn in early-stage round

By Startup Enthusiast · 24 March 2026

What they do

Pranos Fusion develops compact magnetic confinement fusion technology using high-temperature superconducting magnets

It raised $6.8 Mn in a round co-led by pi Ventures and Ankur Capital, with participation from Industrial47 and angel investors

The funds will be used for R&D, commissioning a tokamak with first plasma targeted for 2026, and team expansion

Pranos Fusion raised $6.8 Mn (approximately ₹63 Cr) in an early-stage funding round.
The round was co-led by pi Ventures and Ankur Capital.
Existing investor Industrial47 also participated in the round.
Angel investors included Lalit Keshre (co-founder of Groww), founders of Razorpay, and Bhukhanwala Industries.
The company will use the funds for R&D, commissioning a tokamak with first plasma targeted for 2026, and team expansion.
Funds will also go toward building testing facilities.
The valuation was not disclosed, but the company says it is aligned with global fusion startups at a similar stage.

The global fusion sector raised over $2.6B in the year to July 2025, with a total of $9.7B raised historically.
Competitors include Helion Energy (backed by Sam Altman), Commonwealth Fusion Systems (backed by Bill Gates), and Indian startup Anubal.
The company is incubated at JNCASR (DST) and the Institute for Plasma Research (DAE), and has associations with ITER.
ITER's first plasma is expected in 2033-2034, with deuterium-tritium operations in 2039.

Pranos Fusion develops compact magnetic confinement fusion technology using high-temperature superconducting (HTS) magnets.
Its products include PRAGYA (a testing tokamak), JENGA (design/control software), and MAGGA (superconducting magnets).
JENGA is expected to become a revenue-generating product soon, with a pilot rollout after prototyping.
The company partners with third-party manufacturers in Bengaluru, Pune, and Chennai.
Target customers are fusion energy startups, and it is collaborating with European companies (currently non-paid).
The company was founded in 2024.
It previously raised a ₹3.5 Cr pre-seed round in May 2025 from Industrial47.
It also received a ₹20 Lakh grant from the Startup India Seed Fund.

pi Ventures (co-lead) — An early-stage venture capital firm investing in deep tech startups.
Ankur Capital (co-lead) — An early-stage venture capital firm focused on technology-driven startups.
Industrial47 (existing) — An existing investor in Pranos Fusion.
Lalit Keshre (angel) — Co-founder of Groww, a fintech platform.
Razorpay founders (angel) — Founders of Razorpay, a payment gateway company.
Bhukhanwala Industries (angel) — An industrial company.