The Franco-German start-up announces a further €150 million in financing from a number of investors, to further develop its Nyx Earth space freighter.
Record fund-raising in Europe’s New Space. On Monday, Franco-German start-up The Exploration Company (TEC) announced a new €150 million financing round from a pool of investors, including – and this is also a first – two European sovereign wealth funds: French Tech Souveraineté, an arm of the France2030 plan, and the German federal government’s Deep Tech and Climate (DTCF). Bessemer Venture Partners and NGP Capital also participated in the deal, alongside historical shareholders EQT Ventures, Red River West, Cherry Ventures, Orbital Ventures and Omnes Real Tech Fund. Since its creation in 2021, the start-up has raised a total of €216 million.
“The new funding will be used to recruit new staff, accelerate our production facilities and continue development of the Nyx Earth space freighter, which was selected in May 2024 by the European Space Agency (ESA) to carry out the first…
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