The Exploration Company funding news – The Exploration Company (TEC) has Secured $160 Million in Series B Funding

TEC focuses on reusable and refillable spacecraft to make space exploration more affordable, modular, and sustainable. The company is developing Nyx, a spacecraft that can be reused and refueled in orbit, launched from any heavy launcher, and flown to any space station.

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Nyx will be able to return to Earth with up to 3,000 kg of cargo—the largest down-mass capacity globally—and be refurbished for future missions. This service will cost 25% to 50% less than other vehicles. TEC is the first European company to sign a Space Act Agreement with NASA.

Hélène Huby, co-founder and CEO of The Exploration Company said, "98 per cent of our shareholders are European, demonstrating that the continent can finance bold entrepreneurs. Space will play a critical role in shaping humanity’s future, and I want to contribute to building a future which is peaceful and cooperative and our European DNA fits perfectly with this mission.”

Investor of the round

Balderton Capital and Plural led the funding round, with additional support from Bessemer Venture Partners, NGP Capital, French Tech Souveraineté, DeepTech & Climate Fonds (DTCF), and Bayern Kapital.

The round also saw continued investment from previous investors, including EQT Ventures, Red River West, Cherry Ventures, Promus Ventures, and Omnes Real Tech Fund.

David Thévenon, Partner at Balderton Capital, said: “The Exploration Company is poised to redefine European leadership in space exploration. Their mission to make space exploration more accessible and sustainable promises to unlock unprecedented opportunities not just for Europe, but for humanity's future in space.”

Khaled Helioui, Partner at Plural, considers TEC to be “sitting on the kind of tinder box that you don’t see often as an investor. Demand for launches and delivering cargo dramatically outstrips supply, in a region which has received decades-worth of institutional investment, in a political climate where policy-makers know they need to take urgent action if they want to safeguard our critical assets. When you add in a founder who you believe can emulate the kind of value creation we’ve seen in commercialising space in the US, you have a near-perfect set of ingredients for success.”

Funding Utilisation

The funding will be used to develop and test Nyx, grow the team to 200 people, and increase capacity.

About The Exploration Company

The Exploration Company aims to make space exploration affordable, sustainable, and accessible for both space and non-space industries. It’s a global effort with European roots.