This week, French entrepreneur Hèlene Huby has become a major presence across European space. She sits among two envoys at a high-profile International Space Summit, with astronaut Thomas Pesquet serving alongside her. The government’s website for the event describes her role as chief executive of “the fastest-growing space company in Europe.”, with her appointment giving the summit a distinctly commercial focus.
The Exploration Company, where she works, also made an announcement this week: it has raised $450 million through a Series C funding round. That makes it the biggest Series C round ever secured by a space company based in Europe, and it is probably the largest fundraising round raised by a female-led company on the continent.
Huby’s arrival on center stage
Europe is now facing pressing questions about its own capacity to chart a course through space, and Huby’s arrival has brought those doubts into focus. Commercial startups in both the United States and China are already moving fast ahead.
She is honest about the situation.
Five years ago, after roughly ten years of work at Airbus and ArianeGroup, Huby started The Exploration Company. At first, the company concentrated on developing a small cargo capsule for sending goods to, and bringing things back from, low-Earth orbit.
The dated flagship rocket
The continent’s largest space ventures appear old-fashioned today. The main Ariane 6 launcher is still in service, yet its expenses remain large, it cannot be used again after launch, and its launch pace of 10 per year looks outdated against the scale of modern satellite swarms.
Europe’s response to SpaceX’s Starlink constellation is a project called IRIS². It is already years behind schedule, and its estimated cost has ballooned to more than $15 billion before much metal has even been cut.
A losing battle on every front
Across almost every front, Europe appears to be losing its fight, whether it is civil projects involving space-based data or military applications.
Huby stands apart from others in Europe for recognizing these issues, speaking openly about them, and attempting to address them. That makes her work refreshing.
The Nyx spacecraft
The firm’s efforts have produced the Nyx spacecraft, which is currently being subjected to NASA safety examinations ahead of a cargo run to the International Space Station scheduled as soon as November 2028.
Huby’s goals are large, and she does not understate how difficult they will be to achieve. The success of her company could determine whether Europe gains a space entrepreneur who is truly answering the call of the moment.
- Funding: $450 million Series C raise
- Record: Largest-ever Series C by a Europe-based space company
- Mission: Nyx cargo flight as early as November 2028
- Ariane 6: 10 launches per year, fully expendable
- IRIS² cost: More than $15 billion, years behind schedule
Source: arstechnica.com
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