The Exploration Company (TEC) announced a $450 million Series C financing on the 8th of September 2026, the largest Series C ever announced by a European space company. It also marks the largest funding round ever secured by an EU-headquartered company led by a female founder and CEO. It will help fund the development of the company’s Nyx cargo reentry vehicle, as well as its Storm reusable rocket engine.
The financing expands TEC’s investor base across both sides of the Atlantic while maintaining a strong European foundation, bringing long-term capital behind a shared objective: to scale reusable space transportation platforms capable of serving customers and institutions across borders. The financing brings TEC’s total funding secured to date to approximately $680 million.
TEC has political support as well. Ursula von der Leyen, President of the European Commission, and French President Emmanuel Macron both praised the Series C ahead of the International Space Summit in Paris.
Space infrastructure already underpins communications, scientific research, security, and critical services on Earth. Yet the ability to reach, supply and return from orbit remains concentrated and fragile, as demand is accelerating. TEC is addressing these constraints by building reusable transportation systems for both public agencies and commercial operators.
The Nyx capsule remains TEC’s near-term priority and the foundation of its reusable space transportation platform. Nyx is designed to carry cargo to current and future space stations and return it safely to Earth, with the growth potential to carry crew afterwards. It will dock with the International Space Station before returning to Earth, demonstrating an end-to-end capability for reusable orbital transportation.
The Series C financing will accelerate the development of Storm, TEC’s next strategic capability. Storm is Europe’s first reusable high-thrust rocket engine using a full-flow staged combustion cycle with oxygen and methane as propellants. Designed to deliver efficiency and thrust currently unmatched in Europe, Storm will provide the propulsion foundation for a future reusable and affordable European super-heavy launcher capable of placing up to 40 tons into low Earth orbit in reusable configuration. The funding will allow TEC to perform a series of tests, ranging from pre-burners tested with a subscale thrust chamber in the next months; an ox-rich power pack test; and a workhorse engine test in the next few years.
The Series C round builds on rapid commercial and program execution. TEC has won more than $2 billion in contracts and commitments globally, balanced between public-sector programs and private-sector customers. These include the European Space Agency (ESA), alongside commercial space stations’ cargo logistics agreements.
Exciting times for New Space, with private funding backing the companies that enable it.
Image Credit: TEC
The Exploration Company (TEC) secures $450 million in the largest-ever Series C by a European space company
https://www.exploration.space/blog/the-exploration-company-series-c-450-million
The Exploration Company Raises $450M Series C