A European space company called The Exploration Company (TEC) has raised $160 million to build a reusable spaceship. This spaceship, called Nyx, will carry astronauts and supplies to space stations.
This funding brings TEC’s total money raised to over $208 million, with big investors like Balderton Capital, Plural, and government programs from France and Germany supporting the project. The company plans to test the next version of Nyx in 2025 and complete the full version by 2028.
TEC’s CEO, Hélène Huby, says there’s a growing need for space transport, with the market growing by 10% every year. The company has already signed deals worth $800 million, showing strong interest in Nyx.
Unlike SpaceX, TEC is mostly funded by private investors, though the European Space Agency (ESA) is also supporting the project. Founded in 2021, TEC was started by engineers from Airbus and ArianeGroup to strengthen Europe’s role in space exploration.
Other European companies like Rocket Factory Augsburg, ArianeGroup, and Isar Aerospace are also working on reusable rocket technology, aiming to compete with SpaceX.
This funding will help TEC improve Nyx and make Europe a bigger player in space travel.
🔗 Learn more about TEC and Nyx here: