The Exploration Company (TEC), a European space company scaling globally, today announced a $450 million Series C financing, the largest-ever Series C announced by a European space company. It also marks the largest funding round ever secured by an EU-headquartered company led by a female founder and CEO. The round is co-led by Bessemer Venture Partners, Atomico, and the Scaleup Europe Fund, managed by EQT, with participation from TEC’s existing European backers including Balderton, Plural, Cherry and Red River West.
“Everyone on Earth depends on infrastructure in space, yet the ability to reach, supply and return from orbit remains rare,” said Hélène Huby, Founder and CEO of The Exploration Company. “This financing will allow us to execute with urgency: to bring Nyx to the International Space Station and safely back to Earth, while accelerating Storm, the high-thrust propulsion capability Europe needs for its future reusable heavy launcher. We are scaling from Europe with talent, customers and partners from around the world because the next generation of space transportation must be built to serve more nations, industries and people – and because our mission is to contribute to build a more collaborative and peaceful future in space.”
Emmanuel Macron, President of the French Republic, commented:
“Just before the International Space Summit in Paris, The Exploration Company has secured the largest Series C raised by a European space company. TEC’s transformational ambitions and excellence in execution, driven by the French German engine, are an inspiration for the space companies we build together in Europe.”
Ursula von der Leyen, President of the European Commission, added:
“This is a strong moment for Europe’s space industry. It shows what Europe can achieve when talent, ambition and innovation are matched with capital. A company built across several Member States and supported by the Scaleup Europe Fund has secured major financing to build critical space capabilities and scale them here in Europe. And its success sends an important message about women’s leadership in high technology.”
The financing expands TEC’s investor base across both sides of the Atlantic while maintaining a strong European foundation, bringing long-term capital behind a shared objective: to scale reusable space transportation platforms capable of serving customers and institutions across borders. Bessemer’s Alex Ferrara will join the TEC board of directors. The financing brings TEC’s total funding secured to date to approximately $680 million.
Space infrastructure already underpins communications, scientific research, security, and critical services on Earth. Yet the ability to reach, supply and return from orbit remains concentrated and fragile, just as demand for space-station logistics, in-orbit services and resilient infrastructure is accelerating. TEC is addressing these constraints by building reusable transportation systems for both public agencies and commercial operators.
The Nyx capsule remains TEC’s near-term priority and the foundation of its reusable space transportation platform. Nyx is designed to carry cargo to current and future space stations and return it safely to Earth, with the growth potential to carry crew afterwards. It will dock with the International Space Station before returning to Earth, demonstrating an end-to-end capability for reusable orbital transportation.
The Series C financing will accelerate the development of Storm, TEC’s next strategic capability. Storm is Europe’s first reusable high-thrust rocket engine using a full-flow staged combustion cycle with oxygen and methane as propellants. Designed to deliver efficiency and thrust currently unmatched in Europe, Storm will provide the propulsion foundation for a future reusable and affordable European super-heavy launcher capable of placing up to 40 tons into low Earth orbit in reusable configuration. The funding will allow TEC to perform a series of tests, ranging from pre-burners tested with a subscale thrust chamber in the next months; an ox-rich power pack test; and a workhorse engine test in the next few years.
https://www.exploration.space/blog/the-exploration-company-series-c-450-million