Startup of the Week - The Exploration Company

Greetings Detectives

Welcome to Rocket Roundup, Your favorite space newsletter! Last week’s deep dive into the world of space startups, and our feature was on ICEYE - Revolutionizing Earth Observation with Cutting-Edge SAR Satellites, Read it here.

In this week's Deep Dive, our focus is on a groundbreaking startup dedicated to Modular Orbital Vehicles 🚀🤖

The Exploration Company - Pioneering Affordable and Accessible Space Exploration with Modular Orbital Vehicles.

Introduction

The Exploration Company, founded in 2021, is a European startup focused on democratizing space exploration through its innovative approach. The company's flagship project, Nyx, is a modular and reusable orbital vehicle designed to make space exploration affordable, sustainable, and accessible to both space and non-space entities. Nyx features open interfaces available on a SpaceStore, allowing companies to utilize the platform and develop new applications.

Mission & Service

The mission of The Exploration Company is centered around making space exploration universally affordable, available, and open. Nyx, the company's versatile orbital vehicle, is capable of a wide range of missions, including resupplying space stations, free-flying around Earth, landing on the Moon, and executing 100km hops on the lunar surface. Starting with cargo flights, Nyx holds the potential for future human missions, offering unprecedented opportunities for exploration.

Funding & Achievements

The Exploration Company has secured significant funding, raising a total of €47.3 million over four rounds. In the latest funding round on February 1, 2023, the company raised €40.5 million in a Series A led by Cherry Ventures and joined by 14 other investors. This adds to the €5.3 million raised in a seed round on November 18, 2021, from Cherry Ventures and two other investors, as well as the €1.5 million raised in a pre-seed round on October 5, 2021. The diverse investor base reflects strong support for The Exploration Company's mission to democratize space exploration and make it more accessible.

Criticism and Challenges:

The Exploration Company aims to provide long-duration access to space for research and commercial partners at a fraction of the current cost. With a goal of making space aboard Nyx vehicles affordable at €15k per kg, the company envisions costs as low as 15% of those associated with the International Space Station. Future plans include a demo flight in 2024, showcasing Nyx's capabilities, and a lunar mission in 2028, marking a significant stride in the democratization of space exploration.

Conclusion

The Exploration Company emerges as a promising player in the European space industry, driven by its commitment to democratize space exploration. Through the development of Nyx and substantial funding, the company is poised to revolutionize the accessibility and affordability of space missions for both research and commercial purposes. With clear objectives and an innovative approach, The Exploration Company stands as a key contributor to the future of space exploration.

Want more about The Exploration Company ?

Explore further insights about The Exploration Company by visiting their LinkedIn profile and exploring their website.

UNTIL NEXT TIME

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DISCLAIMER: (Rocket Roundup is an independent publication and is not affiliated with any government agency or space organization)