The Exploration Company (TEC) has raised $450 million in a Series C financing round to advance its rocket and spacecraft programme, including a reusable capsule and a large launch vehicle under development in Europe. The Munich-based German-French start-up said the new capital will support work on its Nyx capsule and Storm engine as it pushes towards heavier-lift launch capability.
The round was co-led by Bessemer Venture Partners, Atomico and the Scaleup Europe Fund, which is managed by EQT, with participation from existing backers Balderton, Plural, Cherry and Red River West. TEC has now secured about $680 million in total funding since its founding in 2021.
The company is targeting a launch vehicle with up to 60 tonnes of payload capacity, a scale far above Europe’s current heavy-lift capability. The latest financing underlines continued private investor interest in reusable space transport technologies as European start-ups compete for a larger role in launch and orbital logistics.