Franco-German scaleup The Exploration Company, which makes reusable space capsules, has raised $450m in Series C funding.

The Exploration Company raised $450 million to help it complete work on a cargo spacecraft and lay the groundwork for a future large launch vehicle.

The new funding will support the development of TEC's Nyx reusable capsule for a planned mission to the International Space Station and advance its Storm high-thrust rocket engine.