European space startup secures $450M for first non-US Raptor engine
The Exploration Company has raised $450 million in a Series C round, supported by Bessemer, Atomico, and the EU Scaleup Europe Fund. The funding will develop its Nyx cargo capsule, aiming for a 2028 docking with the International Space Station, and its Storm engine, positioning it as the first to produce a Raptor-class engine outside the U.S.
Sources: msn.com
“This funding round underscores Europe’s push to build independent space capabilities, reducing reliance on U.S. or Russian technology amid geopolitical tensions and supply chain constraints.”
What it means
The $450 million round is a rare large-scale bet on European space infrastructure, reflecting both investor confidence and the EU’s strategic priority to localize critical space tech. Success hinges on whether The Exploration Company can deliver on its 2028 timeline—delays or technical setbacks could test backers’ patience. If executed, it could reshape the competitive landscape for commercial space cargo, currently dominated by U.S. firms like SpaceX.
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