TEC secures record $450 million Series C for reusable spacecraft
The Exploration Company (TEC), a European startup, just scored a massive $450 million investment, the biggest Series C funding round ever for a European space firm.
This shows how much buzz there is around reusable spacecraft technology as more companies race to launch stuff into orbit.
Huby leads TEC's Nyx and Storm
With aerospace veteran Helene Huby at the helm, TEC is putting the money toward Nyx, a reusable capsule aiming to dock with the soon-to-be-retired International Space Station and return safely to Earth by November 2028, and developing Storm, which could become Europe's first full-flow stage combustion rocket engine.
Backed by big names like the European Space Agency, NASA, and investors such as Atomico, TEC is hoping to give Europe its own answer to SpaceX in the near future.