The Exploration Company raises €387M for Nyx
The Exploration Company has secured a €387 million Series C round to advance its reusable Nyx space capsule toward an ISS docking mission and accelerate
The Exploration Company (TEC) has announced a €387 million Series C financing round. The European space firm will use the capital to advance its reusable Nyx capsule toward a mission to dock with the International Space Station and to accelerate development of its high-thrust, reusable Storm rocket engine.
The funding round was co-led by Bessemer Venture Partners, Atomico, and the Scaleup Europe Fund managed by EQT. Existing European investors including Balderton, Plural, Cherry, and Red River West also participated.
Founder and CEO Hélène Huby stated the funding's purpose. "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," she said.
A Broader European Investment Trend
TEC's raise is part of a significant wave of investment in European launch and propulsion companies in 2026. The source report lists several comparable financings that occurred this year.
| Company | Country | Funding Round | Amount (€ million) | Purpose |
|---|---|---|---|---|
| PLD Space | Spain | Series C extension | 288 | Transition to commercial launch operations |
| ATMOS Space Cargo | Germany | Series A | 25.7 | Develop reusable orbital transport vehicles |
| HyImpulse Technologies | Germany | Series A extension | >50 | Commercialise launch services and hybrid propulsion |
| Arkadia Space | Spain | Not specified | 14.5 | Commercialise propulsion systems for satellites |
Together, these four financings account for more than €378 million, illustrating substantial capital deployment in the sector alongside TEC's latest round.
Political Endorsements for European Ambition
The announcement drew comments from high-level European political figures. French President Emmanuel Macron linked the funding to the upcoming International Space Summit in Paris, calling TEC's €387 million raise the largest Series C for a European space company. He cited the firm's "transformational ambitions and excellence in execution" as an inspiration.
European Commission President Ursula von der Leyen called it a strong moment for Europe's space industry. "It shows what Europe can achieve when talent, ambition and innovation are matched with capital," she said. Von der Leyen also highlighted the message sent about women's leadership in high technology.
Near-Term and Strategic Capabilities
The Nyx reusable capsule is TEC's immediate priority. Designed to carry cargo to space stations and return to Earth, it forms the foundation of the company's transportation platform. Its planned mission to dock with the ISS and return is intended to demonstrate a complete, reusable orbital transportation capability. The company states the capsule has growth potential to carry crew in the future.
The Series C funds will also accelerate development of the Storm rocket engine. TEC describes Storm as Europe's first reusable high-thrust engine using a full-flow staged combustion cycle with oxygen and methane propellants. The engine is designed to provide unmatched efficiency and thrust in Europe, serving as the propulsion foundation for a future reusable super-heavy launcher. This proposed launcher could place up to 40 tons into low Earth orbit in a reusable configuration.
Funding Supports Testing and Scaling
The capital will enable a series of technical tests for the Storm engine in the coming months and years. These tests range from pre-burners with a subscale thrust chamber to an ox-rich power pack test and a workhorse engine test.
Subject to regulatory approvals, the financing will support continued hiring and industrial scale-up across engineering, manufacturing, mission operations, propulsion, and program delivery. The funding expands TEC's investor base across the Atlantic while maintaining a strong European foundation to scale reusable space transportation platforms.
