Energy Singularity’s first financing round was led by MiHoYo and also saw funding raised from NIO Capital, Sequoia China Seed Fund and BlueRun Ventures.
The nuclear fusion company is aiming to lower carbon emissions by making Tokamak devices and operational control systems. It intends to use the funds to research and develop the first small Tokamak experimental device with advanced magnet systems and materials that serve as high-temperature superconductors.
The goal of Energy Singularity is, according to a tweet by Niko Partners senior analyst Daniel Ahmad, to primarily use these funds to build “its own Tokamak device by 2024”.
Ahmad also noted that members of Energy Singularity’s staff attended Shanghai Jiao Tong University, which MiHoYo’s founders also attended.
Founded in 2021, The Energy Singularity team is also comprised of individuals from Stanford University, Peking University, and more.