Plural invests in German aerospace startup The Exploration Company

Venture capital firm Plural, founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, has led a €151.6 round in Munich-based aerospace startup The Exploration Company (TEC). Balderton Capital was a co-lead investor with participation from Bessemer Venture Partners, NGP Capital, French Tech Souverainete, DeepTech & Climate Fonds (DTCF), Bayern Kapital, EQT Ventures, Red River West, Cherry Ventures, Promus Ventures, and Omnes Real Tech Fund.

Founded in Munich in 2021 by Helene Huby, Artur Koop, Pierre Vinet, Nils Bernhardt, and Sebastien Reichstadt. The Exploration Company is developing a reusable and refillable modular spacecraft Nyx, designed to deliver cargo to destinations including low Earth orbit, lunar orbit, and the Moon’s surface. According to the startup, the spacecraft will be able to return to Earth with up to 3K kg of cargo.

In May 2024, the European Space Agency selected the company for a cargo transport mission to and from the International Space Station, scheduled for 2028. By August 2024, The Exploration Company had secured contracts worth $770M, 90% from private space station providers, including Vast, Starlab, and Axiom Space, and 10% from space agencies. In 2025, The Exploration Company plans to launch its second demonstrator. The Mission Possible capsule will be the first to carry customer payloads into orbit, and it will be launched on a SpaceX Falcon 9.

The startup will use the investment to continue the development and testing of its Nyx spacecraft, expand its 200-person workforce, and increase its capacity. 

Founded in 2022 by Sten Tamkivi, Taavet Hinrikus, Ian Hogarth, and Khaled Helioui, Plural focuses on leading early-stage rounds between €1M and €10M. In 2023, a new partner, AI-driven biotech HelixNano founder, and VC investor Carina Namih joined Plural. The fund has its own rule that requires all of Plural's partners to make personal co-investments in the deals they lead.