The Exploration Company, a Munich-based space tech firm, has secured $450 million in a Series C funding round. This investment marks the largest Series C raise for a European space company to date, bringing the startup's total funding to approximately $680 million.
The round was co-led by Bessemer Venture Partners, Atomico, and the Scaleup Europe Fund, which is managed by EQT. Existing investors, including Balderton, Plural, Cherry, and Red River West, also participated. Alex Ferrara of Bessemer Venture Partners will join the company's board of directors.
Founded in July 2021 by Hélène Huby, the company employs over 550 people across Germany, France, Italy, the United States, and the UAE. The capital will support the development of the Nyx reusable cargo capsule and the Storm high-thrust rocket engine, which utilizes a liquid oxygen and biomethane combustion cycle.
The company has secured over $2 billion in contracts and commitments, primarily from the European Space Agency and commercial station operators. It is also the first European space startup to sign a Space Act Agreement with NASA.
