Briefing

The Briefing: Helion Energy Raises $500M, bit.bio Lands $103M, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Helion Energy raises $500M for fusion

Everett, Washington-based Helion Energy, a developer of fusion energy technology, announced that it raised $500 million in a Series E funding round led by Sam Altman.

Existing investors, including Dustin Moskovitz, Mithril Capital and Capricorn Investment Group, also participated in the round. The funding includes the opportunity for an additional $1.7 billion tied to performance milestones.

The capital will go toward completing the construction of Polaris, Helion’s seventh-generation fusion generator. The company says its pulsed non-ignition technology will be capable of low-cost around-the-clock power generation with a zero-carbon footprint.

— Joanna Glasner

bit.bio lands $103M Series B

Cambridge, U.K.-based bit.bio, a developer of cell coding technology, announced it raised $103 million in a Series B funding round. Backers in the round include Arch Ventures, Charles River Laboratories, Foresite Capital, Resilience, Metaplanet, Puhua Capital and Tencent.

— Joanna Glasner

Funding rounds

AKUA harvests $3.2M for kelp burgers: AKUA, a startup that makes burgers, jerky and other edibles out of kelp, reportedly raised $3.2 million in a new funding round led by Vibrant Ventures, bringing the company’s total fundraising to date to $5.4 million.

— Joanna Glasner

Illustration: Dom Guzman

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