Who invested in Marathon Fusion

2 rounds we have observed, with the 3 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

EnergyChemicals & Materials

Raised 2 months ago

Funding summaryUpdated 26 Oct 2026

$3.6Mraised across 2 rounds since 2024, from 2 sources

Latest round: Grant, $3.6MSept 2026
Investors: 3

See who backed them

The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

20252026

?Venture$3.6MGrant

First round: Venture
Biggest round: $3.6M
Between rounds: 2.1 years

The rounds

Sept 2026
Grant$3.6M3 returning
Source recorded
Aug 2024
VentureAmount undisclosed3 new
Source recorded

Founders and team

From Marathon Fusion's own website and the SEC filings it signed: 3 on the team.

Schmidt FuturesAdam Rutkowski, CTO
Adam RutkowskiExecutive Officer, Directori
Kyle SchillerExecutive Officer, Directori

Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

Venture2024Grant2026

Liquid 2 Ventures

US Department of Energy

1517 Fund

Everyone who backed them

Liquid 2 VenturesVC firm2rounds

US Department of EnergyGovernment2rounds

1517 FundVC firm2rounds

Missing a round, or an investor who was in one? Tell us.

Also claim to have backed them

These 3 firms list Marathon Fusion as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.