Founded in 2021 by former Airbus executive Hélène Huby, The Exploration Company aims to reduce Europe’s reliance on U.S. and Russian spacecraft through its Nyx reusable capsule, designed for cargo and eventually crew transport. Despite a reported valuation exceeding $2 billion, the company faces challenges, including recent flight failures that jeopardize its operational transition. The ongoing funding discussions reportedly involve the EU-managed Scaleup Europe Fund, aligning with broader trends of increasing private investment in European space initiatives.