The Exploration Company (TEC) has announced a successful funding round, raising $160 million to further develop its reusable space capsule, “Nyx.” This capsule is designed to transport both astronauts and cargo to space stations.
What Happened: The funding round was led by venture capital firms Balderton Capital and Plural. Additional support came from French Tech Souveraineté and DeepTech & Climate Fonds, initiatives backed by the French and German governments. The Nyx capsule’s reusability is a key feature, allowing it to re-enter Earth’s atmosphere and be used for multiple missions, CNBC reported on Monday.
Hélène Huby, the founder and CEO of TEC, emphasized the increasing demand for space travel, stating, “It’s a big market, and it’s growing about a bit more than 10% per year.”
TEC is currently developing the second version of Nyx, with plans for a launch next year and a final version targeted for 2028. The European Space Agency is partially funding this project. The company has already secured $800 million in contracts, including agreements with Starlab and Axiom Space.
Why It Matters: The space industry is undergoing a transformation, with private companies playing a pivotal role in what is being termed “Space Race 2.0.” This shift began in 2011 when the focus moved to public-private partnerships, with SpaceX emerging as a key player through its Falcon launch vehicle and Dragon spacecraft.
In October, SpaceX, led by CEO Elon Musk, successfully demonstrated catching a booster propeller for a Starship after it returned to Earth. The launch tower at Starbase caught the propeller with mechanical arms. The key objective of the flight test was to demonstrate the reusability of the Starship's design.
However, Starship recently faced a delay in the sixth test flight. This flight, now due Nov. 19, will aim to catch Starship’s booster back at the launch site as on the previous flight and splash down the upper stage in the Indian Ocean.
Past Flights: On Starship's fifth flight test in October, it lifted off from Starbase, and the booster returned to Earth after propelling Starship to space. The booster was subsequently caught by the launch tower at Starbase.
Musk has also been eyeing taking humans to Mars aboard the Starship. In September, he revealed that the first Starship launch to Mars is expected to be in 2026 but it will not carry a crew.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image via TEC
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