NGP Capital has co-led a $160 million Series B funding round for The Exploration Company, positioning it to become a leader in European space logistics.

Target Overview

The Exploration Company (TEC) is a pioneering entity in the field of space transportation, aiming to establish itself as the leading space company in Europe. With an extensive vision, TEC focuses on cargo transportation with the objective of advancing European space technology. Recently, they successfully raised $160 million in their Series B funding round, marking it as the largest space tech fundraising in Europe.

Founded and led by Hélène Huby, a seasoned rocket scientist, TEC represents a significant step in the evolution of space tech. Introduced into NGP Capital's portfolio in 2023, this investment aligns with the firm’s goal of supporting companies with a broad global reach and capabilities. TEC operates across four countries—three in Europe and one in the United States—demonstrating a strong collaborative ethos and cross-border manufacturing.

Industry Overview

The European space tech industry is experiencing rapid growth, largely driven by increasing governmental funding. Currently, the majority of revenue streams are deriv