The Exploration Company GmbH announced that it has received ?40.5 million in a round of funding co-led by new investor, EQT Ventures, and returning investor, Red River West SAS on February 1, 2023. The transaction also included participation from other new investors, Omnes Capital S.A.S., July Fund Management GmbH, Partech Partners SAS, Habert Dassault Finance SARL, Schlumberger Limited, Wealth Management Alliance Pte. Ltd., Possible Ventures, Rymdkapital, SISTAFUND, returning investors, Promus Venture Management, LLC, Cherry Ventures Management GmbH, and Vsquared Ventures Management GmbH.

The investors acquired minority stake of the company through this transaction.