Avalanche has recently announced a $29 million investment round led by RA Capital with participation from 8090 industries, Congruent Ventures, Founders Fund, Lowercarbon Capital, Overlay Capital, and Toyota Ventures.
Congruent Ventures and Lowercarbon Capital are existing backers of Avalanche having invested in their 2022 Seed round and 2023 Series A. This brings Avalanche's total funding to over $80 million.
Avalanche is pursuing a magneto-electrostatic fusion approach. Their fusion machine is called “The Orbitron,” which is about the size of a desk. Avalanche believes that the compact size of their fusion machine allows for faster iteration, rapid development, scaling, and other applications.
Source: Avalanche
Due to the smaller scale of their fusion machine, Avalanche is able to test changes to its devices sometimes twice a week. Avalanche’s experiments are being carried out at FusionWERX in Washington State.
Avalanche expects to bring its first product to market in the early 2030s. Their ambition is to deliver up to 100kw of power from a system that is about 1 meter wide and 2 meters long.