TMTPOST — Nova Fusion Energy Technology (Shanghai) Co., Ltd. announced Monday that it has completed a Pre-A series financing totaling RMB 1.2 billion, comprising Pre-A and Pre-A+ rounds. Within 16 months of its founding the company has raised RMB 500 million in an angel round, RMB 700 million in an angel-plus round and the latest RMB 1.2 billion, bringing cumulative funding to RMB 2.4 billion and a post-money valuation of more than RMB 10 billion. Meituan Longzhu and Hillhouse Ventures increased their stakes, while Lenovo Capital and Guozhong Capital joined as new strategic investors. The commercial nuclear-fusion startup said its “Nova-1” device has completed engineering design and core-component development and is now in final assembly, with a target of first plasma discharge by the end of 2026.