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Exploration Company in talks for $2bn round led by Bessemer, Atomico. Advertisements The Exploration Company, a Franco-German startup building reusable space capsules, is in advanced talks for a funding round that would value the company at roughly $2 billion post-money. Bessemer Venture Partners and Atomico are negotiating to co-lead the round, which is expected to raise approximately $254 million. The deal would mark one of Europe's largest space-tech rounds this year and position the Munich-headquartered company alongside a handful of private space ventures commanding multi-billion-dollar valuations. $2 billion Target post-money valuation for The Exploration Company's current funding round Advertisements What Logicity know about the round. The company has previously raised around $550 million in total funding. This round would push cumulative investment past $800 million and give The Exploration Company firepower to accelerate development of its Nyx capsule system, designed for orbital and suborbital cargo transport. Existing backers include Heartcore Capital, Plural Platform, Balderton, and the European Innovation Council's venture arm. The EIC's European Space Fund, backed by EIF, has been competing to participate in the round alongside the new lead investors. Founded in 2021 by CEO Hélène Huby, the company has built its thesis around reusable capsule technology that can return payloads to Earth. It secured a €770 million contract in late 2023 and announced headquarters in the US with a facility set up in Brownsville, Texas, signaling ambitions beyond the European market. Why Bessemer and Atomico are betting on space now. European space investment has lagged behind the US, where SpaceX dominates launch and Rocket Lab has carved out a significant niche. But recent movement in European defense spending and a push for sovereign launch capability have created tailwinds for homegrown players. Atomico has been building exposure to capital-intensive deep tech, while Bessemer has a long history in space through investments in Rocket Lab and Planet Labs. Their joint lead suggests conviction that The Exploration Company can compete globally, not just serve European institutional customers. The timing aligns with broader European government efforts to reduce reliance on US launch providers. French and German space agencies have signaled interest in supporting reusable capsule development for science missions and satellite servicing. Advertisements The competitive picture. The Exploration Company's funding trail mirrors other European deep-tech raises. Isar Aerospace, another German space startup, raised €165 million last year. Swedish satellite company Ovzon closed a €2 billion deal earlier this year. The company is part of a cohort trying to prove that Europe can build space infrastructure at scale. In the US, Sierra Space is developing the Dream Chaser spaceplane for cargo missions. The Exploration Company's Nyx capsule targets a different form factor but competes for similar commercial and government contracts. Logicity's take. A $2 billion valuation for a pre-revenue space capsule company is aggressive, but Bessemer and Atomico are not writing checks on vibes alone. The real signal here is that major VCs now see a path to returns in European space beyond government grants. For founders in adjacent hardware sectors, watch whether this round closes at the reported terms. If it does, it raises the ceiling for what European deep-tech startups can command. What happens next. The round is not yet closed. Terms could shift, and the final investor syndicate may include additional participants from the EIC or sovereign funds. If the deal lands near the reported $2 billion mark, The Exploration Company will become one of Europe's most valuable private space companies. The next milestone to watch: whether Nyx reaches orbit on schedule. Hardware startups at this valuation live or die by technical execution, and investors will want proof that the capsule can perform before any talk of a follow-on round. Need help implementing this? Logicity helps founders track funding trends and identify comparable deals for benchmarking. Reach out to its research team if you're raising and need market context. Advertisements Huma Shazia Senior AI & Tech Writer Produced with AI assistance and reviewed by the Logicity editorial team. Learn more in its Editorial Policy.

Papa Johns CFO Ravi Thanawala is leaving to become chief financial officer of American Eagle Outfitters. Chris Collins, SVP of corporate finance, will serve as interim CFO whilst the company searches for a permanent replacement. Comcast's former CFO Michael Angelakis will become CEO as part of a planned split between its media and technology businesses. Angelakis served as CFO from 2008 to 2015 before founding investment firm Atairos. Greggs CFO Richard Hutton is retiring after 28 years with the UK bakery chain. Ben Waldron will join as CFO designate in October and assume the role from January 2027. Waldron spent 14 years at Bakkavor Group, most recently as CFO. Defence-tech space firm Sierra Space appointed Jeff Schrader as CFO from his role as chief strategy officer.

Sierra Space names Jeff Schrader chief financial officer. * June 30, 2026 * | News LOUISVILLE, Colo. - June 30, 2026 - Sierra Space Corp. ("Sierra Space"), a defense-tech space company delivering solutions for the nation's most critical missions and advancing the future of security in space, announced today the appointment of Jeff Schrader as chief financial officer. Schrader, who joined Sierra Space earlier this year as chief strategy officer, will now lead the company's financial strategy, capital planning and enterprise execution priorities as Sierra Space advances its next phase of growth. "Our nation depends on us to execute and deliver," said Dan Jablonsky, CEO of Sierra Space. "Jeff has a proven record in business and financial leadership, deep national security expertise, strategic insight and is the right leader for this role at a pivotal moment for the company. He has spent more than 25 years providing leadership on national security missions - from the U.S. Air Force to RTX to Lockheed Martin Space - and he brings that full capability to bear as CFO to help us scale mission performance, allocate capital with precision, and deliver on our customers' highest priorities." Schrader began his career as a U.S. Air Force financial analyst, advancing to chief financial officer for special programs and later the Air Force Rapid Capabilities Office. He held P&L responsibility as president of SEAKR Engineering and Blue Canyon Technologies, overseeing a combined workforce of more than 1,000 employees, and guided corporate development, M&A strategy and capital-efficient growth across complex aerospace and defense organizations. Before joining Sierra Space, Schrader served as vice president of strategy and business development at Lockheed Martin Space, where he supported a $13 billion business area. "I'm honored to step into this role at such an exciting time for Sierra Space," said Schrader. "Over the past few months, I've seen firsthand the strength of our portfolio. Both of our business areas - Satellites and Spacecraft Missions, and Space Subsystems - have significant differentiators and I am impressed by the caliber of our team. The opportunities ahead of us are significant. I'm energized by the chance to help shape our financial strategy and capital planning in service of the missions we support, ensuring Sierra Space is positioned to scale efficiently, invest wisely, and deliver exceptional value to our customers." With this appointment, and the recent announcement of Jill Pomeroy as senior vice president of government relations, Sierra Space continues to strengthen its leadership team to support critical customer missions across the defense and commercial space markets. About Sierra Space Headquartered in Colorado, Sierra Space is an industry-leading defense-tech space company. Sierra Space Corporation design, manufacture, and deliver satellites, spacecraft and space subsystems including reusable spaceplanes, hypersonic technologies, propulsion systems, and infrastructure for the nation's most critical missions. With more than three decades of space flight heritage, expansive classified and unclassified infrastructure and disruptive cutting-edge technology, Sierra Space is trusted by National Security, civil and commercial customers. Its flight-proven technologies advance its customers' missions, including safeguarding its nation, protecting space-based assets, and enabling the next generation of space exploration and economic development. Sierra Space is dedicated to defining the new era of space defense, strengthening deterrence today and preserving freedom of action for generations to come. MEDIA CONTACT: [email protected]