The Exploration Company raises $160 million Series B led by Balderton and Plural to build the first European space capsule
World-class team raises Europe’s largest-ever space Series B
- The Exploration Company launched in 2021 to develop reusable and refillable spaceship, Nyx, to serve the growing logistical needs of space stations and space exploration
- Nyx is designed to be launched from any heavy launcher in the world - making it the most affordable and launcher agnostic space cargo vehicle
- Led by ex-Airbus and ArianeGroup space engineers, TEC was the first European company to sign a Space Act Agreement with NASA
The Exploration Company (TEC), a leading European space tech, announces it has raised $160 million in Series B funding co-led by Balderton Capital and Plural, with participation from Bessemer Venture Partners, NGP Capital, French Tech Souveraineté, DeepTech & Climate Fonds (DTCF) and Bayern Kapital. The round also included significant follow-on investment from historical investors, including EQT Ventures, Red River West, Cherry Ventures, Promus Ventures and Omnes Real Tech Fund. This is the first time two European sovereign funds, French Tech
Souveraineté managed by Bpifrance and DTCF, have invested together, demonstrating TEC’s strategic European DNA. The funding brings TEC's total raised to nearly $230 million and will be used to develop and test Nyx, expand the 200-strong team, and scale capacity.[...]