The Exploration Company (TEC), a French-German startup founded in 2021, is gearing up for a funding round expected to exceed the $160 million raised last year, according to the Financial Times. The company aims to build Europe’s first reusable cargo capsule designed to deliver supplies to the International Space Station (ISS), entering a field largely dominated today by Elon Musk’s SpaceX.
CEO and founder Hélène Huby says TEC’s ambitions stem from Europe’s need to strengthen its independence in space. Alongside its cargo capsule, the startup is co-developing a lunar lander with the United Arab Emirates, targeting a Moon landing before 2035.
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Cargo capsules are deployed to transport equipment and essential supplies to astronauts. They are launched on rockets and then use onboard thrusters to navigate in orbit. In 2023, the European Space Agency launched a competition for companies able to develop vehicles capable of supporting cargo missions to low-Earth orbit by 2029, with the potential to carry crew at a later stage. TEC is competing against Thales Alenia Space, the traditional aerospace venture owned jointly by France’s Thales and Italy’s Leonardo.
European space ministers will decide this week whether to fund at least one demonstrator mission, a program estimated at €250 million. A recent agreement with NASA — exchanging cargo transport services for European astronaut flights to the ISS — could open the door for a second company to receive backing, though budget constraints may limit such support. Several industry observers believe TEC currently holds the advantage.
The upcoming funding round will also support the development of a high-thrust reusable rocket engine. Huby says TEC expects to invest around $450 million to bring the cargo capsule to completion, with at least 40% of that sum covered internally and the rest expected to come from public funds.
“TEC started work on a cargo vehicle before Europe even committed to investing seriously in cargo transport. They have their own vision and they don’t wait for governments,” noted Matija Renčelj from the European Space Policy Institute.
Photo: Paperjam
