German-French space tech startup The Exploration Company raises €5.3 million for its mission to democratise space exploration
The Exploration Company was created earlier this year and recently completed its €5.3 million seed round, which was oversubscribed. Promus Ventures led the round, with Vsquared and Cherry Ventures as co-investors.
With a purpose to make space exploration inexpensive, accessible, and open, the firm was launched in June 2021 by a group of former and experienced Airbus and ArianeGroup personnel. The fledgling company, based in Munich, is a European venture, with Hélène Huby, a Frenchwoman, serving as CEO and co-founder.
The objective of the pioneering space tech startup is to democratise space exploration. They create a fleet of reusable spacecraft that can orbit the Earth, travel to the Moon, and return. The vehicles are designed to be economical and accessible, with open interfaces. They’ll start by transporting freight, with the possibility to transport humans in the future.
The Exploration Company hopes to provide in-space experiments for 10% of the cost of the International Space Station, fly to the Moon for a fraction of the current competition cost, and enable non- and new-space players to participate in the space exploration race by leveraging its reusable and open technology.
“Today, this space exploration competition is the luxury of the happy few because it remains expensive, non-available, and limited to space specialists,” stated Hélène Huby, CEO and Co-Founder. We aim to help open up this new frontier to as many parties as possible, including non-space businesses, which will be critical to the new space economy’s success.
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