# pHydrogen funding: rounds and investors

> pHydrogen has raised $2.1M across 1 round since 2025. Investors include Incubate Fund. Every round with its source.

Source: https://millionrounds.com/company/phydrogen (Millionrounds; every figure on the page links to its filing or article)

Japan · [Seed startup](https://millionrounds.com/companies)

# Who invested in *pHydrogen*

One round we have observed, with the one investor named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Energy

Funding summary Updated 26 Oct 2026

**$2.1M** raised across 1 round since 2025, from 1 source

- **Latest round:** Seed, $2.1M Jun 2025
- **Investors:** 1

See who backed them

## The rounds

- **Jun 2025** Seed **$2.1M** [Incubate Fund](https://millionrounds.com/fund/incubate-fund) Source recorded

## Everyone who backed them

[Incubate Fund](https://millionrounds.com/fund/incubate-fund) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=phydrogen).

## Quick answers about pHydrogen

### Who invested in pHydrogen?

pHydrogen's investors include Incubate Fund.

### How much has pHydrogen raised?

pHydrogen has raised $2.1M across 1 round since 2025.

### When did pHydrogen last raise?

pHydrogen's most recent round was a Seed of $2.1M in Jun 2025.

### What was pHydrogen's biggest round?

Its most recent round, $2.1M in Jun 2025, is also its largest on record.

### Who backed pHydrogen first?

pHydrogen's first round on record, in Jun 2025, was backed by Incubate Fund.

### What stage is pHydrogen at?

pHydrogen's latest named round is a Seed, in Jun 2025.

### Where is pHydrogen based?

pHydrogen is based in Japan.

## Companies like pHydrogen

In the same sector, and raised in the last eighteen months.

[**Helical Fusion** $43M · Oct 2026](https://millionrounds.com/company/helical-fusion)[**Sharing Energy** $26M · Apr 2026](https://millionrounds.com/company/sharing-energy)[**Tensor Energy** $6.7M · Apr 2026](https://millionrounds.com/company/tensor-energy)[**3DC** $2.4M · Feb 2026](https://millionrounds.com/company/3dc)[**Oceanic Constellations, Inc** $13M · Feb 2026](https://millionrounds.com/company/oceanic-constellations-inc)[**Carbon CryoCapture** $404K · Sept 2025](https://millionrounds.com/company/carbon-cryocapture)

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