# The Exploration Company

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-exploration-company

- Industry: Aerospace
- Headquarters: Munich, Germany
- Website: www.exploration.space
- Total disclosed funding: $661M
- Latest round: Series C (Sep 8, 2026)
- Investors on record: 26

## About

Based in Germany, The Exploration Company GmbH focuses on the development of innovative space vehicles, enhancing access to space for various sectors, including governmental and commercial entities. Founded in 2021 in Planegg, Germany, The Exploration Company GmbH specializes in advanced space transportation solutions. The company was established by Artur Koop, Jon Reijneveld, and Sebastien Reichstadt, who have backgrounds in aerospace and technology. In September 2026, The Exploration Company GmbH raised USD 450 million in series C funding co-led by EQT, Bessemer Venture Partners, and Atomico, with participation from Balderton Capital, Red River West, Cherry Ventures, Plural, European Space Agency, National Aeronautics, and Space Administration. The Exploration Company specializes in the development of advanced space vehicles, with their flagship product being Nyx. Nyx is a modular, reusable, and in-orbit refillable spacecraft designed to facilitate transportation of cargo to and from space stations in low-Earth orbit and beyond. This innovative vehicle is capable of launching from any heavy launch vehicle globally and aims to address the emerging demand for reliable and cost-effective access to space. The company targets various customer segments, including governmental space agencies, private space enterprises, and commercial entities requiring logistics solutions for space operations. The geographic markets for Nyx's services extend beyond Europe, aiming to serve clients in North America, Asia, and other regions engaged in space exploration and research. The revenue structure of The Exploration Company is built around B2B transactions, focusing on partnerships and service contracts with governmental and commercial entities involved in space missions. Clients engage in agreements for the utilization of Nyx's transportation services, potentially structured as one-off missions or recurring contracts for multiple flights. Given the modular and refillable nature of Nyx, pricing is determined based on specific mission parameters, including payload size and mission duration. Additionally, service offerings may include custom logistics solutions tailored to the unique needs of clients, enhancing the overall value proposition for those investing in space infrastructure. The company will use the September 2026 funding to advance Nyx, a reusable capsule targeting ISS docking and Earth return by November 2028, and to develop Storm, poised to be Europe’s first full-flow stage combustion rocket engine.

## Funding rounds

- Series C, Sep 8, 2026, $450M — EQT, Bessemer Venture Partners, Balderton Capital, Atomico, Cherry Ventures, European Space Agency, National Aeronautics and Space Administration, Red River West, Plural
- Series B, Nov 6, 2024, $163M — EQT, Partech Partners, Omnes Capital, Bessemer Venture Partners, NGP Capital, Balderton Capital, Bpifrance, Bayern Kapital, Cherry Ventures, Red River West, Pleiade Venture, Orbital Ventures, Plural, DeepTech and Climate Fund, Zedra Trust Company (Guernsey) Limited, Mousserena LP
- Series A, Dec 14, 2022, $42M — EQT, Partech Partners, Omnes Capital, Habert Dassault Finance, Promus Ventures, Cherry Ventures, Schlumberger Technology, Red River West, Vsquared Ventures, July Ventures, Possible Ventures, Interface Capital
- Seed, Nov 18, 2021, $6M — Cherry Ventures, Vsquared Ventures, Orbital Ventures

## Investors

- Cherry Ventures (https://capitalatlas.ai/funds/cherry-ventures) — Seed, Series A, Series B, Series C
- Vsquared Ventures (https://capitalatlas.ai/funds/vsquared-ventures) — Seed, Series A
- Orbital Ventures — Seed, Series B
- EQT (https://capitalatlas.ai/funds/eqt) — Series A, Series B, Series C
- Partech Partners (https://capitalatlas.ai/funds/partech-partners) — Series A, Series B
- Omnes Capital (https://capitalatlas.ai/funds/omnes-capital) — Series A, Series B
- Habert Dassault Finance (https://capitalatlas.ai/funds/habert-dassault-finance) — Series A
- Promus Ventures (https://capitalatlas.ai/funds/promus-ventures) — Series A
- Schlumberger Technology (https://capitalatlas.ai/funds/schlumberger-technology) — Series A
- Red River West (https://capitalatlas.ai/funds/red-river-west) — Series A, Series B, Series C
- July Ventures (https://capitalatlas.ai/funds/july-ventures) — Series A
- Possible Ventures — Series A
- Interface Capital (https://capitalatlas.ai/funds/interface-capital) — Series A
- Bessemer Venture Partners (https://capitalatlas.ai/funds/bessemer-venture-partners) — Series B, Series C
- NGP Capital (https://capitalatlas.ai/funds/ngp-capital) — Series B
- Balderton Capital (https://capitalatlas.ai/funds/balderton-capital) — Series B, Series C
- Bpifrance — Series B
- Bayern Kapital (https://capitalatlas.ai/funds/bayern-kapital) — Series B
- Pleiade Venture (https://capitalatlas.ai/funds/pleiade-venture) — Series B
- Plural (https://capitalatlas.ai/funds/plural) — Series B, Series C
- DeepTech and Climate Fund (https://capitalatlas.ai/funds/deeptech-and-climate-fund) — Series B
- Zedra Trust Company (Guernsey) Limited — Series B
- Mousserena LP — Series B
- Atomico (https://capitalatlas.ai/funds/atomico) — Series C
- European Space Agency — Series C
- National Aeronautics and Space Administration — Series C