Nyx – the name of the space capsule developed by The Exploration Company – is designed to transport cargo and eventually people into space to supply space stations and conduct long-distance research missions. The spacecraft will be reusable multiple times and capable of refueling in orbit. Additionally, Nyx is being developed independently of launch vehicles, allowing the space capsule to be launched with various rockets.
The Exploration Company was founded in July 2021 by a team of experienced aerospace engineers led by Hélène Huby, who have already worked on space programs such as Orion-ESM and Ariane. Within nine months, they built their first reentry demonstrator. The second demonstrator, which is to fly into space and re-enter the atmosphere in a controlled manner, is currently in development. Its launch is scheduled for 2024, with the first fully operational space capsule planned to launch in 2026.
To achieve this, the spacetech startup has now raised €40.5 million in its Series A round. The round is led by EQT Ventures and Red River West. New and existing investors such as Promus Ventures, Cherry Ventures, Vsquared, Omnes Capital, July Fund, Partech, Habert Dassault Finance, Schlumberger, WMA, Possible Ventures, Rymdkapital, and Sista Fund are also participating.
Nyx is the first space capsule to be privately financed
Co-founder Hélène Huby explains:
“This decade, humanity will venture into space and – sometimes in collaboration with the private sector – build space stations around Earth and the Moon, paving the way for sustainable settlement of the Moon and beyond. Currently, these transformative developments are led by only a few players. We want to democratize space exploration by providing more sustainable and affordable capacity. Nyx, our spacecraft, is the first space capsule to be privately financed, the first to use environmentally friendly propellants, and the first whose operating system is open source. This enables nations, space and non-space industries, and individuals to participate in and contribute to building the new world of space.”
Alfred Vericel, founding partner at Red River West, adds:
“I have known Hélène for many years and am impressed by her ability to anticipate strategic shifts, execute major space programs, and unleash the talents of her team through her task-oriented, visionary, and empathetic energy. Red River West is committed to investing in European entrepreneurs building global and impactful companies that we can scale together in the US. We are proud to contribute to the development of The Exploration Company.”
And Ted Persson, partner at EQT Ventures, adds:
“It has been nearly half a century since Neil Armstrong walked on the moon. Since then, the industry has focused on developing innovative launch systems to get satellites and, in some cases, people into space. Hélène and her team have brought together a unique mix of world-class industry veterans and young aerospace and software engineers to capture a massive market opportunity that will ultimately enable Europe – and others – to participate in the discovery of new space worlds in a sustainable and collaborative manner.”
