Nuclear fusion developer Shine raised $70 million via a convertible note ahead of a planned Series D round, the company tells Axios exclusively.
Driving the news: Baillie Gifford and Fidelity Management & Research Company led the round, which closed last month.
"It started as a Series D late last year. Private markets have only deteriorated since then. It's been just brutal conditions to raise in," CEO Greg Piefer tells Axios.
