Transmutex is a technology company.
Transmutex has raised $29.0M across 2 funding rounds.
Transmutex has raised $29.0M in total across 2 funding rounds.
Transmutex is a Swiss nuclear energy startup founded in 2019 that develops a next-generation reactor using particle accelerators to transmute nuclear waste and thorium into clean, carbon-free energy.[1][2][3][5] It addresses key nuclear challenges—safety, waste, cost, and proliferation—by reducing the radiotoxicity of long-lived waste from 300,000 years to 300 years while producing scalable dispatchable electricity and heat.[1][3][5] The company serves governments, energy providers, and waste management entities facing nuclear waste disposal issues, with traction including over CHF 20 million raised (including a $23 million Series A co-led by Union Square Ventures), grants like a $4 million award, and recognitions such as WEF Technology Pioneer and Top 100 Swiss Startup 2024.[1][2][3][5]
Transmutex traces its roots to 1990s research at CERN, where physicist Carlo Rubbia invited Federico Carminati to develop a thorium reactor powered by a particle accelerator to tackle nuclear waste.[5] Shelved due to industry disinterest, the concept resurfaced amid today's nuclear renaissance and waste storage urgency; Carminati, former CERN Chief Innovation Officer, partnered with entrepreneur Franklin Servan-Schreiber, ex-Earthmind Senior Associate, to found the company in Geneva in 2019.[1][5] Early milestones include $8.66 million in initial funding by 2021 from investors like Hardware Club and USV Climate Fund, a pitch deck securing $8 million, and rapid growth to over CHF 20 million by 2024, plus global prizes and Swiss cleantech accolades.[1][2][3]
Transmutex rides the nuclear renaissance trend, fueled by climate urgency for reliable baseload power amid intermittent renewables and rising energy demands from AI/data centers.[3][5] Timing aligns with post-2020s policy shifts favoring advanced nuclear (e.g., waste solutions), global waste stockpiles (300,000-year storage crisis), and thorium's abundance over uranium.[1][5] Market tailwinds include grants, WEF recognition, and investor bets from USV/Bessemer on fission's scalability; it influences the ecosystem by pioneering accelerator-driven systems, potentially enabling international coalitions for deployment and reshaping waste-to-energy paradigms.[2][3][5]
Transmutex is poised to build its first facility in 2-3 years, expanding its ~20-person team while forming government coalitions for regulatory acceleration and global rollout.[5] Rising nuclear support, AI-driven power needs, and waste mandates will propel growth, evolving its role from innovator to key player in net-zero infrastructure. As a CERN-rooted pioneer turning liabilities into assets, it exemplifies how revived 1990s physics can redefine clean energy scalability.[1][5]
Transmutex has raised $29.0M in total across 2 funding rounds.
Transmutex's investors include BITKRAFT Ventures, Foundation Capital, Kindred Ventures, Lightspeed Venture Partners, Ludlow Ventures, Scott Sandell, The Fintech Fund, Union Square Ventures, Naveen Jain, Founders Fund, Presight Capital.
Transmutex has raised $29.0M across 2 funding rounds. Most recently, it raised $23.0M Series A in January 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2024 | $23.0M Series A | BITKRAFT Ventures, Foundation Capital, Kindred Ventures, Lightspeed Venture Partners, Ludlow Ventures, Scott Sandell, The Fintech Fund, Union Square Ventures, Naveen Jain | |
| Jul 1, 2021 | $6.0M Series A | BITKRAFT Ventures, Foundation Capital, Founders Fund, Kindred Ventures, Lightspeed Venture Partners, Ludlow Ventures, Scott Sandell, Presight Capital, The Fintech Fund, Union Square Ventures, Naveen Jain |