The funding round is led by Bessemer Venture Partners, Atomico, and the Scaleup Europe Fund managed by EQT. Existing investors including Balderton, Plural, Cherry, and Red River West are also participating. This brings the total funding raised to date to around 680 million dollars. The new round is still subject to regulatory approvals.
Nyx is set to head to the ISS – and return safely
In the short term, the focus is on Nyx. The reusable space capsule is designed to launch on various launch vehicles and supply both governmental and commercial space stations with cargo. Returning to Earth is also part of the concept. For its first full-scale orbital demonstration mission, Nyx is scheduled to dock with the ISS and then return safely. Looking ahead, human spaceflight is also planned.
Hélène Huby, founder and CEO of The Exploration Company, says:
“Everyone on Earth relies on space infrastructure. Yet the ability to reach Earth orbit, supply it, and return from there remains rare. This funding will enable us to make rapid progress: getting Nyx to the International Space Station and safely back to Earth, while simultaneously accelerating the development of Storm – the high-thrust propulsion system Europe needs for its future reusable heavy-lift rocket. We are growing from Europe with talent, customers, and partners from all over the world because the next generation of space transportation must serve more nations, industries, and people – and because our mission is to contribute to a future in space characterized by greater cooperation and peace.”
Storm is set to power Europe’s heavy-lift rockets
Another portion of the funding will go toward Storm. The reusable rocket engine is designed to run on liquid oxygen and biomethane. The company relies on a full-flow staged combustion cycle, in which both propellant components are routed through preburners.
Storm is intended to provide the propulsion foundation for a future European heavy-lift rocket. According to the company, this rocket will be able to transport up to 40 tons of payload into low Earth orbit in a reusable configuration. To this end, further tests of engine components are initially planned before a development engine is to be tested in the coming years.
Alex Ferrara, Partner at Bessemer Venture Partners, explains:
“Sovereignty in space is becoming increasingly critical to Europe’s national security, particularly as space becomes the infrastructure layer upon which modern economies are built. Europe cannot secure its own access by renting it. With Nyx, Hélène and the team at The Exploration Company have demonstrated that they can tackle the industry’s toughest challenges, while continuing to drive new innovation with Storm. We believe they have the potential to become one of the most important companies in Europe and globally, and we are proud to continue supporting the team.”
As part of the financing round, Ferrara joins the Board of Directors of The Exploration Company.
Contracts and Commitments Exceeding 2 Billion Dollars
According to its own statements, The Exploration Company has secured contracts and commitments worth more than 2 billion dollars worldwide. These are distributed across public programs and private customers. They include the European Space Agency ESA as well as agreements for cargo resupply to commercial space stations.
With NASA, the company is working under a Space Act Agreement on technical requirements, safety qualifications, and certifications for future missions to the ISS and commercial stations.
Ursula von der Leyen, President of the European Commission, comments on the financing:
“This is a powerful moment for Europe’s space industry. It shows what Europe can achieve when talent, ambition, and innovation meet capital. A company built across multiple Member States and backed by the Scaleup Europe Fund has secured significant funding to develop critical space capabilities and scale them here in Europe. And its success sends an important signal for women in leadership positions in deep tech.”
The Exploration Company was founded in 2021 by Hélène Huby and a team of experienced space experts. Today, the company employs more than 550 people across Europe, the US, and the United Arab Emirates. The funding is intended to support further hiring and the expansion of development, manufacturing, mission operations, and propulsion technology.
