Funding round
The Exploration Company Series B
The Exploration Company, which works in reusable spacecraft manufacturing in Planegg, raised $160M in a Series B round announced on 18 Nov 2024, led by Balderton Capital and Plural. 13 firms took part. It is The Exploration Company's third venture round on record; the one before was a Series A in Feb 2023.
$160M
Amount raised
150,000,000 EUR converted
Not disclosed
Post-money valuation
13
Investors
2 leads
Valuation
What this round says about the price
The Exploration Company did not disclose a valuation in this round. It came 21 months after The Exploration Company's Series A. It is 24% of the $660M The Exploration Company has raised in the venture rounds on record. The Exploration Company raised again 22 months later: a Series C round of $450M in Sep 2026.
The Exploration Company's funding rounds
The Exploration Company has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Balderton Capital and Plural led the round with 11 other firms.
Lead investors
- Balderton Capital backs 140 venture-backed companies new investor
- Plural new investor
Also in the round
- Bessemer Venture Partners backs 412 venture-backed companies new investor
- backs 53 venture-backed companies new investor
- French Tech Souveraineté new investor
- backs 16 venture-backed companies new investor
- backs 92 venture-backed companies new investor
- EQT Ventures new investor
- backs 13 venture-backed companies new investor
- backs 92 venture-backed companies new investor
- backs 31 venture-backed companies new investor
- backs 33 venture-backed companies new investor
- backs 12 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
34 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $68M, and this round was 2.4 times the median. The closest in time, other companies' Series B rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| CHAOS Industries Aerospace and Defence | 13 Nov 2024 | $145M | not disclosed | Accel |
| Aerospace and Defence | 1 Nov 2024 | $13M | not disclosed | Adara Ventures and Molten Ventures |
| Aerospace and Defence | 21 Nov 2024 | $4.0M | not disclosed | Impact Capital Limited |
| Impulse Space Aerospace and Defence | 1 Oct 2024 | $150M | not disclosed | Founders Fund |
| Aerospace and Defence | 1 Oct 2024 | $61M | not disclosed | Maezawa Fund Inc. |
| Aerospace and Defence | 9 Dec 2024 | $24M | not disclosed | not named |
| Quantum Systems Aerospace and Defence | 30 Sep 2024 | $112M | not disclosed | Notion Capital and Porsche SE |
| Forterra Aerospace and Defence | 10 Sep 2024 | $75M | not disclosed | Moore Strategic Ventures and XYZ |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did The Exploration Company raise in its Series B round?
The Exploration Company raised $160M in its Series B round, announced in Nov 2024.
Who led The Exploration Company's Series B round?
Balderton Capital and Plural led it, with Bessemer Venture Partners, NGP Capital, French Tech Souveraineté, DeepTech & Climate Fonds and Bayern Kapital and 6 more.
What was The Exploration Company's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Aerospace and Defence?
34 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $68M, and this round was 2.4 times the median.
Did The Exploration Company raise again after this round?
Yes: a Series C round in Sep 2026 of $450M.