Ant Group leads hundreds of millions of yuan funding for Xeonova
- ByStartupStory | November 11, 2025
Ant Group has led a significant funding round for Xeonova, a Chinese startup focused on advancing field-reversed configuration nuclear fusion technology. The company recently closed a Pre-A round financing that raised hundreds of millions of yuan, led by Ant Group along with other investors including Hidden Hill Capital and Zijin Mining Group. Existing shareholders such as CMBC International also increased their investments.
The capital raised will primarily be used to enhance the performance of ongoing fusion projects, deploy critical technologies, and expand Xeonova’s team to accelerate the development of its field-reversed configuration fusion energy systems. Nuclear fusion offers a promising, near-limitless and clean energy source by fusing light atoms rather than splitting them, potentially revolutionizing future power generation.
Ant Group’s involvement underscores a growing trend of investment in China’s experimental energy frontier, fueled by increasing demand for electricity driven by AI and digital infrastructure growth. With AI’s insatiable appetite for clean and reliable power, nuclear fusion is emerging as a strategic long-term solution. By the end of July 2025, Chinese fusion startups had collectively raised about 14.7 billion yuan (around $2 billion), indicating strong venture capital interest in this domain.
This investment emphasizes Ant Group’s broader strategy to back breakthrough technologies that can support sustainable energy and industrial transformation amid China’s push for decarbonization and technological leadership in artificial intelligence and advanced computing.
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