[SpaceX's European Rival Seeks $300 Million Funding]

Published: Jul 27, 2026 09:45

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According to the UK’s Financial Times, The Exploration Company GmbH, a potential European rival to SpaceX, is in talks to raise at least $300 million, partly from the EU’s “European Scale-up Fund”, which would raise the company’s valuation to more than $2 billion. People familiar with the matter said the funding round, which has not yet been finalised, will be used to support the company’s development of Europe’s first reusable space capsule for transporting cargo to the International Space Station (and planned subsequent space stations). The company last raised funding in 2024, securing around $160 million from French and German government-backed funds. The 2024 funding round was also used to finance the development of its reusable space capsule, Nyx.

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