The Exploration Company /TEC/, SpaceX's European competitor, has reached another milestone in funding the development of its Nyx space capsule.
Germany and France are among the main investors, Euronews reported.
Founded in 2021 company announced that it has raised 151.7 mln. EUR, with which its total funding reached nearly 197 million. euro. The German-based spacecraft maker is often seen as a European rival to Elon Musk's SpaceX's Dragon, a reusable capsule designed to transport cargo and people into space.
The Series B funding round was led by venture capital firms Balderton Capital and Plural. Major contributors were the French government-backed French Tech Souveraineté and the German government-backed DeepTech & a
The funds will primarily be used to further develop TEC's flagship product, Nyx, a reusable spacecraft similar to SpaceX's Dragon. Nyx is designed to carry passengers and cargo to and from the International Space Station (ISS) in low Earth orbit. The second version of Nyx is expected to launch in 2025, and the first full mission is planned for 2028.
Ellen Huby, Co-Founder and CEO of TEC, commented: “Over the past 12 months, we have achieved important operational and financial milestones and signed significant service contracts with both space agencies and commercial customers. The new funding is the next step in expanding our ambitions.” | BGNES
