SpaceX Rival Gets $160 Million

A SpaceX competitor just raised $160 million from investors.

The funds will be used to develop a space capsule to take astronauts and cargo to space stations.

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Most folks have never heard of The Exploration Company.

The company is developing a space capsule called the Nyx.

It’s a reusable capsule that’s launched from a rocket. It will be used to transport people and cargo to space with a capacity of 3,000 kg.

Nyx will compete with the SpaceX Dragon and plans its first launch in 2025.

There’s huge demand.

The Exploration Co. says it’s signed over $800 million in contracts.

The company has financial backing from venture capital firms in Europe and the U.S. Additionally, sovereign wealth funds from France and Germany are investing in the company.

The Exploration Co. has raised a total of $230 million. And the latest valuation is rumored to be around $1 billion.

This deal shows that the Space Race 2.0 is being led by new startups – rather than conventional aerospace and defense companies.

Ian Wyatt