Commonwealth Fusion Systems Raises $863m

Commonwealth Fusion Systems (aka CFS, founded in 2018) has raised money from investors including Nvidia's NVentures venture capital unit to complete a demo system to lead to construction of its first commercial plant (400MW) in Virginia (1MW is equivalent to 1 million Watts).

All added, Commonwealth has raised around $3bn, which is one-third of all capital raised in the fusion industry. Google has already agreed to buy half the power output from the project, estimated to complete in the early 2030s.

Ramp Raises $500m For Automated Finance

The stuff CFOs do that can be called "busywork" is automated in the vision offered by Ramp. The product has gained traction with a number of Finance teams already. This latest financing round is a Series-E2, valuing the company at $22.5bn. ICONIQ led the round with other investors including Thiel's Founders Fund, Khosla Ventures, 8VC, Definition Capital, General Catalyst and others.