Plural participates in The Exploration Company’s $450M Series C funding round
The Exploration Company (TEC), a European space company developing reusable space transportation systems, has raised $450 million in a Series C funding round co-led by Bessemer Venture Partners, Atomico, and the Scaleup Europe Fund, managed by EQT, with participation from existing investors including EstVCA member Plural, Balderton, Cherry, and Red River West.
TEC’s near-term priority is Nyx, a reusable and launcher-agnostic spacecraft designed to transport cargo to current and future space stations and return safely to Earth. Its first full-scale orbital demonstration will include docking with the International Space Station before returning to Earth.
The company is also developing Storm, a reusable high-thrust rocket engine powered by liquid oxygen and biomethane. The Series C will accelerate development and testing of the engine, which is designed to provide the propulsion foundation for a future reusable European heavy-lift launcher.
TEC has secured more than $2 billion in contracts and commitments globally, including programmes with the European Space Agency and commercial space stations. The company was also the first European space startup to sign a Space Act Agreement with NASA and is working with the agency on technical and safety qualification activities supporting future missions to the ISS and commercial stations.
The funding will support continued hiring and industrial scale-up across engineering, manufacturing, mission operations, propulsion, and programme delivery.
