The Exploration Company Raises $160M to Propel European Space Tech

The Exploration Company (TEC), a prominent European space technology firm, has announced a successful Series B funding round, raising $160 million to advance its space exploration objectives. This funding round was co-led by Balderton Capital and Plural, with contributions from various other investors, including Bessemer Venture Partners and multiple sovereign funds such as French Tech Souverainet. The capital injection will support the development of Nyx, a reusable and in-orbit refillable spacecraft engineered to fulfill Europe's growing demand for space logistics amidst an intensifying global space race. This financing effort signifies robust European support for ventures that are committed to making space travel more accessible and sustainable. With a largely European shareholder base, TEC is working to enhance continent-wide space capabilities, particularly in light of mounting demand for cargo launches and the intensification of geopolitical investment in space exploration. The company is on track to achieve significant milestones with future mission launches planned, including Nyx Earth’s maiden flight in 2028. This development aims to reinforce European sovereignty in space and underscore TEC’s mission to foster collaboration and sustainability in space ventures.