The Exploration Company Books $450M for Nyx and Storm, Loft Orbital Wins $1B From Abu Dhabi for a 50-Satellite Fleet, and Pixxel Closes a $100M Series C

The Exploration Company said it raised $450 million in a Series C co-led by Bessemer Venture Partners, Atomico and the EQT-managed Scaleup Europe Fund, what it called the largest-ever Series C by a European space company. CEO Hélène Huby said the money will fund Nyx, the cargo capsule targeting an International Space Station mission in 2028, and accelerate Storm, a liquid-oxygen and biomethane engine that TEC positions as the foundation for a future European reusable heavy-lift rocket carrying up to 40 tonnes to low Earth orbit. TEC said it holds more than $2 billion in contracts and commitments.

Loft Orbital and UAE partner Marlan Space said Abu Dhabi's Royal Group is investing $1 billion in their OrbitWorks joint venture to build a 50-satellite optical and radar imaging constellation using AI and a mainly European supply chain. Stoke Space, a day after its $1 billion Series E, set out Nova's path to flight: CEO Andy Lapsa said the first stage ships soon to Cape Canaveral for a static fire, the debut target is early 2027, and a Block 2 Nova able to lift 15 tons to low Earth orbit (LEO) fully reusable is in full development.

Elsewhere, Pixxel closed a $100 million Series C to expand US production of its Firefly and larger Honeybee hyperspectral satellites; the UK published a 2027 to 2035 national space strategy backed by more than £7.8 billion ($10.6 billion) of spending through 2030, with £880 million earmarked for military intelligence, surveillance and reconnaissance, and space control; Eutelsat hired French servicer Infinite Orbits to extend the life of at least one of its 31 geostationary orbit (GEO) satellites, the servicer's third such customer after SES and Hispasat; and the Navy selected L3Harris to deliver its VAMPIRE counter-drone system for littoral defense.