The Exploration Company Secures $160M to Challenge SpaceX

The European startup aims to develop a reusable space capsule, Nyx, for astronaut and cargo transport.

The Exploration Company (TEC), a Franco-German startup, raised $160 million in a Series B funding round led by Balderton Capital and Plural.
TEC's Nyx capsule is designed to be reusable and capable of carrying both astronauts and cargo to space stations, positioning it as a competitor to SpaceX's Dragon capsule.
European sovereign funds, including France's French Tech Souveraineté and Germany's DeepTech & Climate Fonds, participated in the investment, highlighting EU support for native space capabilities.
The company plans its first Nyx flight next year, with a full mission to the International Space Station targeted for 2028.
TEC has secured contracts worth $800 million, including agreements with commercial space station developers like Axiom Space and Starlab.