Funding round
The Exploration Company Seed
The Exploration Company, which works in reusable spacecraft manufacturing in Planegg, raised $6.0M in a Seed round announced on 18 Nov 2021, led by Promus Ventures. 3 firms took part. It is The Exploration Company's first venture round on record.
$6.0M
Amount raised
5,300,000 EUR converted
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
The Exploration Company did not disclose a valuation in this round. It is The Exploration Company's first venture round on record, in the year it was founded (2021). It is under 1% of the $660M The Exploration Company has raised in the venture rounds on record. The Exploration Company raised again 15 months later: a Series A round of $44M in Feb 2023.
The Exploration Company's funding rounds
The Exploration Company has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Promus Ventures led the round with 2 other firms.
Lead investor
- backs 31 venture-backed companies new investor
Also in the round
- backs 33 venture-backed companies new investor
- backs 92 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
39 Seed rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $5.0M, and this round was 1.2 times the median. The closest in time, other companies' Seed rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 16 Nov 2021 | $10M | not disclosed | Spark Capital |
| Aerospace and Defence | 16 Nov 2021 | $10M | not disclosed | not named |
| Aerospace and Defence | 3 Nov 2021 | undisclosed | not disclosed | Cap Vista |
| Muon Space Aerospace and Defence | 6 Oct 2021 | $10M | not disclosed | Costanoa |
| Aerospace and Defence | 13 Oct 2021 | $6.2M | not disclosed | not named |
| Aerospace and Defence | 9 Dec 2021 | $5.0M | not disclosed | Blume Ventures and growX |
| Aerospace and Defence | 11 Oct 2021 | $1.7M | not disclosed | Primo Space |
| Aerospace and Defence | 19 Jan 2022 | $28M | not disclosed | Fine Structure Ventures |
Questions
Frequently asked
How much did The Exploration Company raise in its Seed round?
The Exploration Company raised $6.0M in its Seed round, announced in Nov 2021.
Who led The Exploration Company's Seed round?
Promus Ventures led it, with Vsquared and Cherry Ventures.
What was The Exploration Company's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Aerospace and Defence?
39 Seed rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $5.0M, and this round was 1.2 times the median.
Did The Exploration Company raise again after this round?
Yes: a Series A round in Feb 2023 of $44M.