**Exploration Company Secures $160 Million to Advance Space Capsule Development**

The European aerospace startup, The Exploration Company (TEC), has successfully garnered $160 million in a funding round to progress its innovative space capsule, Nyx. This capsule is designed to transport astronauts and cargo to space stations, offering a reusable solution for space missions. The funding round was prominently backed by venture capital firms Balderton Capital and Plural, alongside investment support from French Tech Souveraineté and Germany’s DeepTech & Climate Fonds.

Nyx, the flagship product of TEC, is a versatile capsule capable of being launched by rockets into space while carrying both passengers and cargo. One of its standout features is its reusability; after delivering its payload to a space station, it can re-enter Earth's atmosphere, ready for another mission. TEC's ambition is to cater to the rising global demand for space travel and cargo missions. "It's a big market, and it's growing a bit more than 10% per year," noted Hélène Huby, CEO and founder of TEC, during an interview with CNBC. She emphasized the increasing interest from various nations aiming to propel astronauts and cargo into space.

Despite the competition from renowned entities like SpaceX’s Dragon capsule and options from China and Russia, TEC is determined to establish a European alternative. Huby highlighted the necessity of diversifying space travel options beyond SpaceX, ensuring Europe has its own reliable capsule. The company is currently working on the second version of Nyx, anticipated to launch next year, with plans for a final version in 2028, partially funded by the European Space Agency.

TEC has already secured $800 million in contracts for using Nyx, partnering with companies such as Starlab and Axiom Space. Amidst increasing activities in space exploration from nations like China, the U.S., and India, projects like NASA's Gateway—which aims to be the first space station orbiting the moon—are on the rise. With more astronauts and cargo destined for space, Huby envisions TEC playing a crucial role in returning cargo to Earth. "This is where we believe our vehicle is going to play an important role," Huby added, underscoring TEC's strategic position in the evolving space industry.