European Space Startup Raises $160M for Reusable Astronaut Capsule
A European space startup called The Space Exploration Company (TEC) has successfully raised $160 million to further develop its innovative reusable capsule named Nyx. This capsule is designed to be launched into space from rockets, transporting both passengers and cargo to space stations.
The funding round was led by venture capital firms Balderton Capital and Plural, along with investments from French government-backed entity French Tech Souveraineté and German government-backed fund DeepTech & Climate Fonds. The core product of TEC, Nyx, is a reusable capsule that can carry passengers and cargo into space. Once it has completed its mission and delivered its payload, Nyx can safely re-enter the Earth’s atmosphere and be utilized for subsequent missions.
TEC’s founder and CEO, Hélène Huby, expressed her excitement about the growing demand in the space exploration market. She mentioned in an interview with CNBC that the market is expanding by over 10% annually, as more countries are looking to send astronauts and cargo to space stations. Despite the presence of major players like SpaceX, China, and Russia, TEC aims to establish Europe’s own capsule to provide an alternative solution to space travel.
The company is currently working on the development of the second version of Nyx, scheduled for launch next year, with a final version expected by 2028. The European Space Agency will partly finance these upcoming models. TEC has already secured $800 million in contracts for the utilization of its capsule, including agreements with companies like Starlab and Axiom Space.
As space exploration activities increase globally, particularly with projects like NASA’s Gateway, the need for efficient cargo transportation to and from space becomes more crucial. Huby emphasized TEC’s role in developing the necessary technology to facilitate the return of cargo from space to Earth, highlighting the vital role their vehicle will play in the future of space missions.
