SpaceX's European Rival Raises $160M For Reusable Space Capsule

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 ...

Full story available on Benzinga.com