The Exploration Company, a European space transportation firm, has secured $160 million in Series B funding. This significant investment round, led by Balderton Capital and Plural, alongside participation from several other investors including European sovereign funds, will fuel the development of the company's innovative cargo spacecraft, Nyx.
The funding will primarily support the advancement of Nyx Earth, a spacecraft designed for transporting four tons of cargo to and from low Earth orbit (LEO), with a return capacity of three tons. Future plans involve expanding Nyx's capabilities to cislunar space.
“Over the past 12 months, we have hit major operational and financial milestones and signed significant service contracts with both space agencies and commercial clients,” said Hélène Huby, chief executive and co-founder of the company. “This new funding is the next step in scaling up our ambitions.”
The company's achievements include securing a contract from the European Space Agency (ESA) for studies on a cargo transportation vehicle, and launching its first spacecraft, Nyx Bikini, although a failed Ariane 6 final burn prevented planned reentry testing. Despite this setback, The Exploration Company is moving forward, with its next mission, Mission Possible, slated for mid-2025 aboard a SpaceX Falcon 9.
With contracts already secured with Axiom Space, Starlab Space, and Vast for cargo transport to their future space stations, The Exploration Company boasts a substantial backlog exceeding $750 million. The company is targeting commercial space stations as primary clients, aiming to become a major player in the burgeoning private space industry.
“The Exploration Company is poised to redefine European leadership in space exploration,” said David Thévenon, partner at Balderton Capital. “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.”