Key Takeaways
- • White & Case advised Bessemer Venture Partners and Atomico on The Exploration Company's US$450 million Series C financing, representing the largest Series C raised by a European space company to date.
- • The round was co-led by Bessemer Venture Partners, Atomico, and the Scaleup Europe Fund (managed by EQT), with additional participation from European investors Balderton, Plural, Cherry, and Red River West.
- • Proceeds will fund development of The Exploration Company's reusable space transportation systems, including Nyx (cargo spacecraft) and Storm (high-thrust European rocket engine program), designed to serve the International Space Station and future commercial space stations.
- • The financing underscores continued institutional capital deployment into European space infrastructure and sovereign space capabilities, positioning The Exploration Company as a critical player in Europe's autonomous orbital logistics infrastructure.
Summary
Global law firm White & Case LLP advised Bessemer Venture Partners and Atomico on The Exploration Company's US$450 million Series C financing announced on September 9, 2026. The round represents a landmark capital raise for the European space sector, marking the largest Series C ever raised by a European space company, according to White & Case partner Norman Röchert, who co-led the firm's transaction team alongside colleague Daniel Turgel.
The financing was co-led by three major investors: Bessemer Venture Partners, Atomico, and the Scaleup Europe Fund (managed by EQT). The round drew substantial participation from established European venture investors, including Balderton, Plural, Cherry, and Red River West. This investor composition reflects growing institutional confidence in European space infrastructure development and commercial space economy players.
The Exploration Company develops reusable space transportation systems designed to establish sovereign European capabilities for orbital cargo delivery and return operations. The company's primary focus is constructing the "transportation layer" for the emerging space economy. Its flagship assets include Nyx, a launcher-agnostic reusable cargo capsule engineered to service the International Space Station and planned commercial space stations, and Storm, a high-thrust rocket engine program targeting European autonomous launch capabilities. The capital deployment from this Series C will directly support continued development and operational scaling of these systems.
The financing remains subject to applicable regulatory approvals. The scale and composition of this funding round reflects broader institutional momentum toward European space infrastructure, particularly initiatives designed to reduce dependency on non-European launch and logistics providers and establish indigenous space capabilities aligned with strategic autonomy objectives.
The financing was co-led by three major investors: Bessemer Venture Partners, Atomico, and the Scaleup Europe Fund (managed by EQT). The round drew substantial participation from established European venture investors, including Balderton, Plural, Cherry, and Red River West. This investor composition reflects growing institutional confidence in European space infrastructure development and commercial space economy players.
The Exploration Company develops reusable space transportation systems designed to establish sovereign European capabilities for orbital cargo delivery and return operations. The company's primary focus is constructing the "transportation layer" for the emerging space economy. Its flagship assets include Nyx, a launcher-agnostic reusable cargo capsule engineered to service the International Space Station and planned commercial space stations, and Storm, a high-thrust rocket engine program targeting European autonomous launch capabilities. The capital deployment from this Series C will directly support continued development and operational scaling of these systems.
The financing remains subject to applicable regulatory approvals. The scale and composition of this funding round reflects broader institutional momentum toward European space infrastructure, particularly initiatives designed to reduce dependency on non-European launch and logistics providers and establish indigenous space capabilities aligned with strategic autonomy objectives.
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