The Exploration Company secures $450 million for Nyx capsule and Storm engine

The Exploration Company (TEC), a Franco-German aerospace startup, has secured $450 million in a Series C funding round to advance its space logistics and propulsion technologies. The round was co-led by Bessemer Venture Partners, Atomico, and the Scaleup Europe Fund managed by EQT, with participation from existing investors including Balderton and Plural.

The capital is earmarked for two primary objectives: the development of the Nyx reusable cargo capsule and the Storm methane-oxygen rocket engine. The Nyx capsule is designed to transport up to 4 tons to low Earth orbit and return up to 3 tons to Earth, with a goal of docking with the International Space Station (ISS) for a demonstration mission.

Additionally, the company is working toward developing a heavy-lift reusable rocket powered by the Storm engine, aiming for a payload capacity of up to 60 tons by 2033. This ambitious timeline seeks to provide Europe with a competitive alternative to established providers like SpaceX and Blue Origin. Total funding for the company since its 2021 founding now reaches approximately $680 million.