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        The Exploration Company, a developer of modular and reusable space vehicles, has secured USD 160 million in Series B funding led by Balderton Capital and Plural, raising its total funding to USD 211.8 million.
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        The funds will support the development of the Nyx space capsule, a modular and reusable design that is claimed to be compatible with any heavy launcher, enabling cargo transport to and from space stations in low-Earth orbit (LEO) and beyond. Commercial operations are targeted for 2027, with an International Space Station (ISS) mission set for 2028.
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        With a EUR 25 million (~USD 26.4 million) contract from the European Space Agency and a USD 770 million contract backlog, The Exploration Company works with private station developers, including Vast, Axiom Space, and Starlab.
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    <a href="https://www.startuphub.ai/the-exploration-company-secures-160m-series-b-to-develop-nyx-spacecraft/">
      StartupHub
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Space Travel and Exploration Tech

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 <p>The Exploration Company, focussed on creating modular and reusable space vehicles, has raised USD 160 million in a Series B funding round. The round was led by Balderton Capital and Plural. The company's total funding now stands at USD 211.8 million.</p>
 <p>These funds are intended for the development of the Nyx space capsule. The Nyx is a modular, reusable design that is said to be compatible with any heavy launcher. This ability makes it suitable for transporting cargo to and from space stations in low-Earth orbit (LEO) and further. The company plans to commence commercial operations by 2027 and set its first mission to the International Space Station (ISS) for 2028.</p>
 <p>The Exploration Company has a contract worth EUR 25 million (~USD 26.4 million) from the European Space Agency and a contract backlog of USD 770 million. The company collaborates with private station developers such as Vast, Axiom Space, and Starlab.</p>
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The Exploration Company secures USD 160 million in Series B funding to develop Nyx spacecraft

INCUMBENTS_PRESENT

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 <p>Boeing has announced layoffs for 438 aerospace labor union members due to its financial troubles, regulatory issues, and a strike by the machinists' union. This is a part of a larger plan to cut down the workforce by approximately 17,000 jobs or 10%, as revealed in <a href="https://apnews.com/article/boeing-layoffs-strike-airplane-factories-de637999cf525699577b42b72bff2a70"> October 2024 </a>.</p> 
 <p>The first wave of layoffs affected 438 members from the Society of Professional Engineering Employees in Aerospace (SPEEA), including 218 engineers, scientists, and 220 other skilled workers who will remain in the payroll till mid-January.</p>
 <p>The laid-off employees will receive severance packages including one week's salary per year of service, career transition aid, and subsidized health care for three months. The majority of the affected workers are based in Washington, while some are from Oregon, California, and Utah.</p>  
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Boeing announces layoffs of over 400 employees to tackle financial and regulatory pressures

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 <p>ABL Space Systems, a firm producing economical launch vehicles and systems specifically for small satellites, has announced its exit from the commercial launch market. The company plans to now chiefly focus on national missile defense programs that are Pentagon-oriented.</p>
 <p>The company plans to repurpose its RS1 rocket to suit military applications such as using them as target vehicles during weapons testing. This decision comes in the wake of challenges faced in the commercial launch market coupled with intensifying competition from players like SpaceX and Rocket Lab.</p>
 <p>Although ABL has raised above USD 500 million through venture funding and also managed to secure contracts with Project Kuiper by Amazon and Lockheed Martin, it faced considerable setbacks. A failed maiden flight in <a href="https://sp-edge.com/updates/15602"> January 2023 </a> and a failed static fire test in <a href="https://spacenews.com/fire-fed-by-leaking-engines-destroyed-abl-space-systems-rocket/"> July 2024 </a> worsened issues, eventually leading to the company's decision to move away from the commercial launch market.</p>
 
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ABL Space departs commercial launch sector to prioritize missile defense programs

PROMINENT_CATEGORY

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 <p>Space transport startup Impulse Space has entered into an agreement with SpaceX to buy three Falcon 9 launches for its Helios transfer vehicle. The maiden launch is expected to happen in mid-2026.</p>
 <p>The first launch will involve transmitting Impulse Space's Mira vehicle from low Earth orbit to geostationary transfer orbit with a commercial optical payload. This endeavour is connected with the Space Force's Victus Surgo mission. Timelines and payloads for the next two Helios launches have yet to be finalised.</p>
 <p>This collaboration is expected to leverage SpaceX's Launch Complex 39A in Florida, outfitted with capabilities to fuel payloads with liquid oxygen and methane, which are critical to power Impulse Space's Helios vehicle using the Deneb engine.</p>
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Impulse Space partners with SpaceX to secure three Falcon 9 launches

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 <p>Blue Origin and AST SpaceMobile have teamed up to launch several Block 2 BlueBird satellites into low Earth orbit using New Glenn rockets. The rockets are set to launch from Cape Canaveral Space Force Station over a multi-year period. New Glenn's seven-meter fairing offers greater payload volume than any other five-meter commercial launch system, facilitating increased satellite deployment and improved worldwide cellular broadband coverage. This partnership will enhance AST SpaceMobile’s cellular broadband network, allowing direct smartphone connectivity, and smooth transitions between terrestrial cell towers and satellite signals.</p>
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Blue Origin partners with AST Space Mobile to launch BlueBird satellites on New Glenn rockets

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 <p>Space robotics firm, Lunar Outpost, has raised an undisclosed amount in a Series A funding round, with Type One Ventures and Industrious Ventures as the lead investors. The funding will be used to further support ongoing projects which include NASA’s Lunar Terrain Vehicle Services (LTVS) contract from <a href="https://www.lunaroutpost.com/post/lunar-dawn-team-awarded-nasa-lunar-terrain-vehicle-contract"> April 2024 </a>, collaboration with the Australian Government for space exploration development, and efforts alongside the Luxembourg Space Agency to boost operational capabilities on the Moon, in cislunar space, and in harsh Earth conditions.</p>
 
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Lunar Outpost secures undisclosed amount of Series A funding to support active lunar programs

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 <p>Starfish Space, which is working on on-orbit satellite servicing solutions, has secured USD 29 million in a Series A funding round spearheaded by Shield Capital, pushing the overall funding to USD 63 million.</p>
 <p>With these funds, Starfish will finalize the development of its three Otter vehicles. These vehicles have missions lined up with Intelsat, the US Space Force, and NASA. The Otter missions for Intelsat and the US Space Force are anticipated to reach geostationary orbit in 2026.</p>
 <p>Previously, Starfish Space acquired a USD 37.5 million contract with the US Space Force in May 2024 and signed agreements with Intelsat and NASA.</p>
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Starfish Space secures USD 29 million in Series A funding to develop Otter vehicles

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 <p>A multi-launch agreement has been signed between Rocket Lab, a space travel and launch company, and an unknown commercial satellite operator. This agreement, relating to Rocket Lab's medium-lift Neutron rocket, marks a big step forward for the complete deployment of the satellite operator's constellation.</p>
 <p>The contract details two launches specifically assigned to Rocket Lab's Neutron rocket, planned to start in mid-2026. The operations will occur at Rocket Lab Launch Complex 3 in Virginia. The capability of the Neutron rocket to lift 13,000 kg to a low Earth orbit makes it a desirable choice for various ventures, including commercial, government, and scientific missions. This includes the deployment of satellite constellations and national security payloads.</p>
 <p>Neutron is well-positioned to cater to the increasing demand for medium-lift launch services. By the year 2030, it is projected that over 10,000 satellites will need launches in a market valued at approximately USD 10 billion. The expected debut of the rocket in 2025 could potentially be part of the US Government's National Security Space Launch (NSSL) Lane 1 program, a five-year contract worth USD 5.6 billion.</p>
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Rocket Lab secures multi-launch contract for Neutron with commercial satellite operator

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 <p>Boeing's subsidiary, Millennium Space, has delivered two identical satellites for NASA's TRACER (Tandem Reconnection and Cusp Electrodynamics Reconnaissance Satellites) mission. This mission is meant to examine the interplay between solar wind and Earth's magnetosphere.</p>
 <p>The TRACERS mission, which was contracted to Millennium Space in 2019 and is valued at USD 165 million, involves the integration of two identical satellites to investigate magnetic fields, plasma particles, and waves in their orbit around Earth. The satellites will travel through the polar cusp, where the magnetic field is closest to the surface. Millennium Space will oversee ground operations, and the research should enhance space weather forecasting, offering better protection for Earth-bound satellites and infrastructure.</p>
 <p>The TRACERS satellites will be transported to the Vandenberg Space Force Base after environmental testing. They are planned to be launched on a SpaceX Falcon 9 in 2025 to reach a sun-synchronous orbit.</p>
 
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Millennium Space delivers two spacecraft for upcoming NASA mission

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 <p>Space transportation company Firefly Aerospace has acquired a funding of USD 175 million in a Series D round. The round, led by RPM Ventures, includes contributions from both new and existing investors. As a result, Firefly's valuation has shot up to over USD 2 billion, a rise from the last reported USD 1.5 billion in November 2023.</p>
 <p>This money will be used to increase the production of the Alpha launch vehicle. Other funded operations include the extension of Elytra spacecraft's marketplace and enhancing hardware qualification for future vehicles currently in development.</p>
 <p>The company has recently landed several launch contracts from both government and industry entities. These consist of a contract with Lockheed Martin in June 2024 for 15-25 Alpha launches, and a deal with L3Harris in August for a maximum of 20 Alpha launches in the next five years. Moreover, NASA in September 2024 selected Firefly for the Alpha launch of NOAA's QuickSounder spacecraft.</p>
 
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All Updates

The Exploration Company secures USD 160 million in Series B funding to develop Nyx spacecraft

Boeing announces layoffs of over 400 employees to tackle financial and regulatory pressures

ABL Space departs commercial launch sector to prioritize missile defense programs

Impulse Space partners with SpaceX to secure three Falcon 9 launches

Blue Origin partners with AST Space Mobile to launch BlueBird satellites on New Glenn rockets

Lunar Outpost secures undisclosed amount of Series A funding to support active lunar programs

Starfish Space secures USD 29 million in Series A funding to develop Otter vehicles

Rocket Lab secures multi-launch contract for Neutron with commercial satellite operator

Millennium Space delivers two spacecraft for upcoming NASA mission

Firefly Aerospace secures USD 175 million in Series D funding to support production of launch vehicles and spacecraft

Space Travel and Exploration Tech

The Exploration Company secures USD 160 million in Series B funding to develop Nyx spacecraft

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