From TechCrunch · Anna Heim · · 1 min
Europe’s $450M push to break SpaceX’s launch monopoly
The Exploration Company lands historic Series C funding to build reusable European rockets and cargo spacecraft.
In brief
The Exploration Company lands historic Series C funding to build reusable European rockets and cargo spacecraft. Global launch demand and European sovereignty concerns are fueling massive venture funding into reusable rocket startups built to rival SpaceX. Originally reported by TechCrunch.
Space launch demand outpaces supply
SpaceX currently dominates orbital launches, but its Falcon rockets are increasingly occupied with Starlink, creating a major bottleneck for third-party payloads.
Europe secures record space funding
The Exploration Company raised $450 million in the largest Series C funding round ever recorded for a European space startup.
“...the largest-ever Series C by a European space company.”
Championing European space sovereignty
Former Airbus executive Hélène Huby leads the startup to build reusable heavy-lift launchers, providing Europe with an independent alternative to foreign launch providers.
Transatlantic VC backing and contracts
Atomico, Bessemer, and EQT co-led the round, supporting a company that already boasts over $2 billion in commitments from NASA and the European Space Agency.
“10 Nyx missions are booked, with more than $2 billion in contracts and commitments.”
The Nyx capsule targets 2028
TEC's immediate focus is Nyx, a reusable cargo and crew capsule aiming to dock with the International Space Station and return safely by November 2028.
Engineering next-gen rocket engines
Capital will also fund Storm, an ambitious project to develop Europe’s first full-flow staged combustion rocket engine for maximum efficiency.
“It is the first time ever in Europe that a company develops such a rocket engine.”
Future-proofing orbital infrastructure
Massive payload capacities and rapid launch cadences are becoming critical as broadband communications and data centers transition into space.
“In the next five to 10 years, half of our broadband communication could come from space...”
The global race for reusable rockets
Backed by praise from European leaders like Emmanuel Macron, TEC joins rivals such as US-based Stoke Space in seeking to end SpaceX's near-monopoly.
The big picture
Global launch demand and European sovereignty concerns are fueling massive venture funding into reusable rocket startups built to rival SpaceX.
