Xcimer

Denver, CO Energy Private

Xcimer Energy is a US-based inertial fusion energy (IFE) startup developing a scalable, laser-driven approach to commercial fusion power. The company is building a high-energy excimer laser architecture that leverages decades of physics results from the U.S. National Ignition Facility (NIF) while targeting dramatically lower cost-per-joule via electron-beam-pumped krypton fluoride (KrF) lasers and a flowing molten salt first wall. Founded in 2022 by Conner Galloway and Alexander Valys, Xcimer aims to deliver a multi-megajoule fusion laser facility (Vulcan) as a stepping stone to a pilot power plant. The company has been selected for the U.S. Department of Energy's Milestone-Based Fusion Development Program and has assembled a leadership team drawn from SpaceX, Blue Origin, Ursa Major, and the U.S. national labs.

Overview

Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Founded

2022

Employees

100–150

Total Funding

$101.24M

2 rounds

Funding

Total raised $101.24M across 2 rounds

Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Last updated 06-25-2026

Latest Round

Type

Series A

Date

June 4, 2024

Amount

$100M

Valuation

Lead Investors

Hedosophia
DateRoundAmount RaisedValuationLead Investors
June 4, 2024 Series A $100M Hedosophia
January 1, 2022 Seed $1.24M Wireframe Ventures

Leadership

  • Conner Galloway

    Founder, CEO & Chief Scientific Officer

  • Alexander Valys

    Co-Founder, President & CTO

    LinkedIn
  • Brad Appel

    Chief Engineer, Vulcan

  • Justin Brynestad

    Senior Vice President, Vulcan

  • Doug Kunzman

    Vice President of Defense

  • Rachel Konrad

    Senior Vice President of Strategic Communications

Competitors

Competitor list is illustrative and may be incomplete, stale, or erroneous.

  • Focused Energy

    US/German inertial fusion energy startup also pursuing laser-driven direct-drive fusion, founded by researchers from the University of Texas at Austin and TU Darmstadt.

  • Marvel Fusion

    Munich-based laser inertial fusion startup using ultrashort-pulse lasers and nanostructured fuel targets for proton-boron and DT fusion concepts.

  • Longview Fusion Energy Systems

    California-based laser inertial fusion startup founded by former Lawrence Livermore NIF leadership, designing commercial laser fusion power plants based on the NIF ignition result.

  • Commonwealth Fusion Systems

    MIT-spinout magnetic confinement fusion company building the SPARC tokamak and ARC pilot plant; the most heavily funded private fusion company globally.

  • TAE Technologies

    California-based fusion startup pursuing field-reversed configuration aneutronic fusion, one of the longest-running and most heavily funded private fusion ventures.

  • Helion Energy

    Washington-state fusion startup developing pulsed magneto-inertial deuterium-helium-3 fusion with a power purchase agreement with Microsoft for 2028 electricity delivery.

Xcimer Investment FAQ

Public status and buying access

No. Xcimer is a private company and does not have a public stock ticker or trade on a public stock exchange. Its shares are generally held by founders, employees, investors, and other private shareholders. Buyers and sellers may be able to transact in Xcimer shares through private secondary transactions, but any transaction depends on share availability, buyer and seller agreement, transfer restrictions, company approval rights, and any applicable right of first refusal. There is no guarantee that Xcimer will complete an IPO or other liquidity event.

Yes, it is sometimes possible to buy Xcimer shares pre-IPO through private secondary transactions. This depends on finding a willing seller, company approval, and satisfying any transfer restrictions or rights of first refusal.

Buyers interested in buying Xcimer shares on the secondary market typically do so through SetterVC and other secondary-market platforms, subject to eligibility requirements, share availability, transfer restrictions, and issuer approval. Buyers may need to satisfy sophistication, accreditation, institutional, platform, regulatory, or other eligibility requirements before participating. Once eligible, buyers may be able to view listings, make bids, and work with a licensed broker through the transaction process. Buyers should ensure they have appropriate legal and financial advisors guiding them before completing any transaction.

Valuation and funding

Xcimer's latest disclosed funding round was a Series A round in June 4, 2024. The round raised approximately $100M, with Hedosophia listed as disclosed lead or major investors. Primary funding rounds are different from secondary transactions: in a primary round, capital goes to the company, while in a secondary transaction, investors buy existing shares from current shareholders. Funding-round data reflects publicly reported or collected information and may be incomplete.

Xcimer has raised approximately $101.24M in disclosed funding across 2 rounds. These figures reflect primary capital raised by the company and do not include every possible secondary transaction, undisclosed round, debt facility, or private transfer. Reported funding totals can change as new rounds are announced or older round details are corrected. Eligible users can use SetterVC to track Xcimer's funding history alongside private-market activity where available.

Xcimer's disclosed investors include Hedosophia and Wireframe Ventures. Investor lists are based on public reporting, company announcements, and collected funding-round data, and may be incomplete. Participation in a prior funding round does not mean those investors are currently buying or selling shares. On SetterVC, eligible users can review Xcimer's funding history, valuation history, and private-market activity alongside other venture-backed companies.

Market context

Xcimer's most-cited competitors include Focused Energy, Marvel Fusion, Longview Fusion Energy Systems, Commonwealth Fusion Systems, TAE Technologies and Helion Energy. Investors often compare these companies by sector, product focus, valuation, funding raised, growth signals, investor base, and private-market activity.

Secondary-market demand for Xcimer shares can be affected by company performance, revenue growth, profitability, funding history, valuation, investor interest, sector momentum, public-market conditions, expected timing of a liquidity event, and the availability of shares for sale. Demand can also be affected by transfer restrictions, company approval rights, right of first refusal processes, limited information, and the price expectations of buyers and sellers. Strong demand does not guarantee strong pricing, liquidity, or investment returns. Weak demand does not necessarily reflect the company's long-term prospects. Demand signals should not be treated as a recommendation or prediction of investment performance. Buyers and sellers should treat demand signals as informational and conduct their own diligence before transacting.

Selling and transaction mechanics

Sellers often rely on intermediaries and platforms, such as SetterVC and other secondary-market platforms, to identify potential buyers. The exact process varies by company and transaction, but sellers often begin by confirming their ownership, desired price, transferability, and any company approval or notice requirements. If the seller agrees with a buyer on acceptable price and terms, the company may need to be notified through a share transfer notice or similar process. If a right of first refusal, company approval right, or other transfer restriction applies, the seller may need to wait until that process is completed. The parties may then execute a purchase and sale agreement, complete required transfer documentation, and close if all required conditions are satisfied. Sellers should always seek proper legal and financial advice before completing the transaction.

Yes, current and former Xcimer employees, early investors, and other existing shareholders may be able to sell vested shares before an IPO through a private secondary sale. This is not automatic; it depends on whether the shareholder has transferable shares, whether there is buyer demand, and whether the company's governing documents permit the transfer. Many companies require prior notice, company approval, or a right of first refusal before shares can be sold. Sellers should also seek proper legal and financial advice before proceeding.

A Xcimer secondary transaction usually involves an existing shareholder selling shares to a buyer before a public listing. The buyer and seller typically agree on price, number of shares, share class, and closing conditions. The seller may then need to notify Xcimer through a share transfer notice or similar process. If Xcimer or existing investors have approval rights, transfer restrictions, or a right of first refusal, those steps may need to be completed before the transfer can close. The parties typically enter into a purchase and sale agreement, complete any required transfer documentation, and close only if the necessary conditions are satisfied. Timing and certainty can vary by company and transaction.

In most private secondary transactions, parties commonly use a purchase and sale agreement that outlines price, terms, and conditions. They may also use share transfer documentation, often a stock transfer notice, share transfer notice, transfer instruction, or similar document, along with any required company approval or right of first refusal materials. Proof of ownership, such as a cap table entry, share certificate, brokerage statement, issuer confirmation, or administrator confirmation, may also be important. Buyers often request recent company financials, but private companies may limit disclosure. Since every deal varies, buyers and sellers should consult legal and financial advisors to understand which documents are needed.

Risk, diligence, and investor caution

Buying Xcimer shares pre-IPO is risky. Shares are illiquid, no IPO or liquidity event is guaranteed, valuations can change, transfers may require company approval, and private companies may provide limited financial disclosure. Be prepared for total loss. SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, verify information, and seek independent legal and investment advice before proceeding.

Private secondary shares are typically illiquid. Unlike public stocks, there is no active public market, so selling them can be difficult and time-consuming. Sales depend on finding a willing buyer and often require company approval. Investors should be prepared to hold the shares for an extended period, with no guarantee of a future sale. Always assess your need for liquidity before investing.

SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, including verifying ownership, transferability, legal structure, company approval, and assessing the company's prospects. SetterVC and Setter Capital do not provide advice on whether an investment is good, what price to pay, or what the best bid or ask is. SetterVC and Setter Capital may share documents in some circumstances, but it does not guarantee their accuracy or completeness. Due diligence is essential. Seek legal and investment advice as needed.

Before buying Xcimer shares, a buyer should try to review the share class, price per share, implied valuation, transfer restrictions, ROFR process, company approval rights, seller ownership evidence, recent financing or tender-offer information, available financial information, information rights, resale restrictions, tax considerations, and expected liquidity paths. Not all information may be available for a private company. Buyers should confirm available diligence, process details, and information needs with their own legal, tax, and investment advisers.

SPVs carry risks. Examples include the need to confirm the company allows SPV-based transfers, verify that the SPV truly owns the shares or interests it claims to own, and ensure it has not sold more interests than it holds. Due diligence is essential. Seek legal and investment advice as needed.

Forward contracts carry risks. Examples include the seller refusing to transfer the shares at the future date, even if the seller owns them, the seller going bankrupt with creditors claiming the shares, or the seller committing the same shares to multiple parties. Due diligence is essential. Seek legal and investment advice as needed.

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Data collected with AI, which can make mistakes. Please double-check this information.