The Exploration Company raises $450 million for reusable spacecraft
The Exploration Company (TEC) secured $450 million in a Series C round co-led by Atomico and the EQT-managed Scaleup Europe Fund with participation from Bessemer Venture Partners, consolidating private investor backing for a European reusable launcher program. TEC reports 10 Nyx missions are booked and more than $2 billion in contracts and commitments, and it will use the financing to develop the Nyx reusable capsule and the Storm engine program. CEO Hélène Huby said further funding is required to build a launch pad and the rocket, and TEC aims for Nyx to dock with the ISS and return by November 2028.
TEC raised $450 million to advance Nyx and Storm engine development
Context
Demand to send objects into orbit is increasing. SpaceX cannot meet all launch needs and rivals are raising funds. TEC will build Nyx and test engines while seeking more financing for launch infrastructure.
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