The Exploration Company (TEC) has raised $450 million to build reusable spacecraft, in what it describes as “the largest-ever Series C by a European space company.”

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.