The Exploration Company and Space: Revolutionizing the European Space Industry | VoxelMatters

The Exploration Company (TEC), a pioneering space tech firm, has secured $160 million in a record-breaking Series B funding round. Co-led by Balderton Capital and Plural, the investment positions TEC as a major force in European space innovation. The funding will accelerate the development of its groundbreaking spacecraft, Nyx, expand its team to over 200 members, and enhance its manufacturing capacity, which includes additive manufacturing production and design capabilities in partnership with TRUMPF and LEAP71.

The Series B round attracted a mix of new and existing investors, including Bessemer Venture Partners, NGP Capital, French Tech Souveraineté, and Bayern Kapital. Notably, this marks the first time two European sovereign funds—French Tech Souveraineté and DeepTech & Climate Fonds—have invested together, showcasing TEC’s strategic importance for Europe. With this new injection of capital, TEC’s total funding now stands at nearly $230 million.

Founded in 2021 by Hélène Huby, a former Airbus executive, TEC has quickly emerged as a leader in reusable and refillable spacecraft. The company’s flagship project, Nyx, is designed to meet the growing logistical demands of space stations and exploration missions. Nyx aims to make space transportation more affordable and sustainable, with capabilities that include being launched from any heavy-lift rocket globally. This versatility ensures cost efficiency and broad compatibility.

Nyx represents a leap forward for European space sovereignty. Designed to address the continent’s reliance on non-European logistics providers, it offers reusable and in-orbit refillable features that make it more economical and sustainable. With the ability to carry up to 3,000 kilograms of cargo back to Earth, Nyx provides the largest down-mass capability available worldwide. Once returned, the spacecraft can be refurbished and relaunched, reducing overall costs by up to 50% compared to other vehicles.

TEC was the first European company to sign a Space Act Agreement with NASA, symbolizing a transatlantic collaboration in space innovation. It also secured a significant contract with the European Space Agency (ESA) earlier this year, where it ranked as the top performer in Europe’s space capsule competition.

The inaugural mid-size capsule, aptly named “Mission Possible,” is slated to launch in 2025, carrying 300 kilograms of customer payloads. By 2028, the larger Nyx Earth spacecraft is expected to undertake its maiden flight, delivering cargo for ESA to the International Space Station.

This funding round reflects a broader trend of increased investment in European space technology. Balderton Capital’s David Thévenon emphasized that TEC’s innovative approach and unmatched expertise are poised to redefine Europe’s leadership in space exploration. Similarly, Plural’s Khaled Helioui highlighted the vast opportunities in space logistics, pointing to a market valued at $300 billion over the next decade. The growing number of space stations, such as Axiom, StarLab, and Orbital Reef, along with lunar exploration projects, is driving demand for cost-effective and reliable cargo solutions.

Under the leadership of Hélène Huby, TEC remains committed to fostering peace and cooperation in space exploration. Huby has stressed the importance of European collaboration, noting that 98% of TEC’s shareholders are European. This reflects the continent’s ability to finance ambitious and transformative projects that contribute to humanity’s future.