# EX-Fusion

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ex-fusion

- Industry: Power & Utilities
- Headquarters: Suita-shi, Japan
- Website: www.ex-fusion.com
- Total disclosed funding: $31M
- Latest round: Series A (Oct 14, 2025)
- Investors on record: 24

## About

Founded in 2021 by Kazuki Matsuo (CEO) and Yoshitaka Mori (CTO), and based in Osaka, Japan, EX-Fusion Co., Ltd., aka EX-Fusion Inc. operates is a research-based organization that develops commercial laser-based nuclear fusion reactors for power generation. In October 2025, EX-Fusion Inc. raised JPY 400 million in series A funding? from new investors PERSOL VENTURE PARTNERS, JX Nippon Mining & Metals Corporation and SBI Shinsei Corporate Investment.

Ex-Fusion develops a laser fusion reactor that obtains energy from high-power lasers that compress a mixture of deuterium and tritium to high density and heat it to high temperature, causing a nuclear fusion reaction to produce carbon-free energy. The firm is involved in research in various fusion ventures to various fields such as processing of metal materials and semiconductor manufacturing.

The company plans to use its proceeds from October 2025 funding to implement light control technology, a continuous target supply device, and high-power laser technology to advance its business.

## Funding rounds

- Series A, Oct 14, 2025, $2.6M — SBI Shinsei Corporate Investment, JX Nippon Mining & Metals Corporation, PERSOL VENTURE PARTNERS
- Series A, Jun 5, 2025, $16M — EQT, Mitsubishi UFJ Capital, Fujikura Ltd., SMBC Venture Capital, Mizuho Capital, Shizuoka Capital, Senshu Ikeda Capital, Osaka University Venture Capital, Shoko Chukin Bank, Chushin Venture Capital, Osaka Shoko Shinkin Bank, Hamamatsu Iwata Shinkin Bank, MPower Partners, Kiyo Capital Management
- Seed, Jul 5, 2023, $13M — Mitsubishi UFJ Capital, SMBC Venture Capital, Shizuoka Capital, SBI Investment, Nissay Capital, ANRI, Delight Ventures, Osaka Shoko Shinkin Bank, Kyoshin Social Capital, MITSUI SUMITOMO INSURANCE Venture Capital Co.,Ltd., Germination Fund

## Investors

- Mitsubishi UFJ Capital (https://capitalatlas.ai/funds/mitsubishi-ufj-capital) — Seed, Series A
- SMBC Venture Capital (https://capitalatlas.ai/funds/smbc-venture-capital) — Seed, Series A
- Shizuoka Capital (https://capitalatlas.ai/funds/shizuoka-capital) — Seed, Series A
- SBI Investment (https://capitalatlas.ai/funds/sbi-investment) — Seed
- Nissay Capital (https://capitalatlas.ai/funds/nissay-capital) — Seed
- ANRI (https://capitalatlas.ai/funds/anri) — Seed
- Delight Ventures (https://capitalatlas.ai/funds/delight-ventures) — Seed
- Osaka Shoko Shinkin Bank — Seed, Series A
- Kyoshin Social Capital (https://capitalatlas.ai/funds/kyoshin-social-capital) — Seed
- MITSUI SUMITOMO INSURANCE Venture Capital Co.,Ltd. — Seed
- Germination Fund — Seed
- EQT (https://capitalatlas.ai/funds/eqt) — Series A
- Fujikura Ltd. — Series A
- Mizuho Capital (https://capitalatlas.ai/funds/mizuho-capital) — Series A
- Senshu Ikeda Capital (https://capitalatlas.ai/funds/senshu-ikeda-capital) — Series A
- Osaka University Venture Capital (https://capitalatlas.ai/funds/osaka-university-venture-capital) — Series A
- Shoko Chukin Bank — Series A
- Chushin Venture Capital (https://capitalatlas.ai/funds/chushin-venture-capital) — Series A
- Hamamatsu Iwata Shinkin Bank — Series A
- MPower Partners — Series A
- Kiyo Capital Management (https://capitalatlas.ai/funds/kiyo-capital-management) — Series A
- SBI Shinsei Corporate Investment (https://capitalatlas.ai/funds/sbi-shinsei-corporate-investment) — Series A
- JX Nippon Mining & Metals Corporation — Series A
- PERSOL VENTURE PARTNERS (https://capitalatlas.ai/funds/persol-venture-partners) — Series A