Deep-Tech Startup Pranos Fusion Raises USD 6.8 Mn Funding

Bengaluru-based startup Pranos Fusion has raised USD 6.8 million (INR 63 crore) in an early-stage funding round co-led by pi Ventures and Ankur Capital with participation from returning investor Industrial47 and several angel investors. These include Lalit Keshre, the founders of Razorpay and Bhukhanwala Industries.

The startup had earlier raised INR 3.5 crore in a pre-seed round from Industrial47 and received INR 20 lakh through the Startup India Seed Fund.

Founded in May 2024 by Shaurya Kaushal and Roshan George, Pranos Fusion is working on compact magnetic confinement systems aimed at enabling stable and controllable long-pulse fusion operations. The startup is developing an integrated technology stack that includes plasma-control software a compact tokamak platform and a high-temperature superconducting magnet programme.

The newly raised capital will be used to advance its fusion technology stack, including the commissioning of a tokamak with first plasma targeted for 2026.

The funds will also support continued development of magnet systems, software-driven design and control capabilities, expansion of its team and the establishment of testing facilities.

“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,” said Shaurya Kaushal, Co-founder and CEO of Pranos Fusion.

The startup is collaborating with research institutions such as the Institute for Plasma Research and the Jawaharlal Nehru Centre for Advanced Scientific Research, while also engaging with the global fusion programme ITER.

Globally, companies such as Commonwealth Fusion Systems are also working to commercialise tokamak-based fusion. Pranos Fusion is focusing on a compact, low-aspect-ratio design to reduce the size and cost typically associated with fusion reactors.

With global electricity demand expected to rise significantly due to artificial intelligence, manufacturing and urbanisation, the company is positioning its technology as part of the future energy landscape.