The Exploration Company, a European-based space company, has successfully secured $160 million in funding to develop Europe’s first reusable space capsule, the Nyx spacecraft. This funding round, led by Balderton Capital and Plural, brings the total investment in the startup to over $208 million.
Founded three years ago by aerospace engineers Hélène Huby, Sebastien Reichstat, and Pierre Vine, The Exploration Company aims to launch the Nyx spacecraft to and from the International Space Station in 2028. Unlike the current cargo delivery providers to the ISS, which are based in the United States, The Exploration Company is funded mainly by private investors rather than government agencies.
The European Space Agency (ESA) has recognized the importance of developing native space launch and transportation capabilities and has awarded The Exploration Company a €25 million contract to develop cargo return services. This contract, known as the LEO Cargo Return Service Contract, is expected to run through 2026, with more competitive opportunities anticipated.
In addition to its government contracts, The Exploration Company has also gained traction in the commercial sector. Private station developers Vast, Axiom Space, and Starlab have contributed to around 90% of the startup’s $770 million contract backlog. This shows a promising outlook for the company’s future endeavors.
While The Exploration Company faced a setback with the unsuccessful deployment of its first demonstrator vehicle on the maiden flight of Ariane 6, the company is moving forward with its second sub-scale demonstrator mission, Mission Possible, scheduled to launch on a SpaceX Falcon 9 next year. This demonstrates the company’s commitment to overcoming obstacles and advancing its mission.
Hélène Huby, one of the co-founders of The Exploration Company, expressed admiration for SpaceX’s achievements and stated that they are inspired by the company’s success. However, she emphasized the importance of fostering competition in the space industry and building an alternative to existing providers. Despite being a smaller player in the industry, The Exploration Company is determined to make its mark and contribute to the advancement of space exploration.
In conclusion, The Exploration Company’s recent funding success and partnerships with both government agencies and private developers highlight its potential to become a key player in the space transportation sector. With a clear vision and determination to succeed, the company is paving the way for Europe’s entry into the competitive space industry landscape.
