EOS-X Space has reportedly raised $120 million from Global Emerging Markets at a $1.2 billion valuation as the balloon-tourism company targets its first commercial flights before the end of 2026. Tech Funding News reported the financing, citing Expansión.
The financing is intended to support US expansion, industrial capacity and civil and military technology programs, according to the report. It follows a $140 million Series D announced in May 2026, when Emprendedores reported that EOS-X had declared the round closed without identifying its investors.
EOS-X is developing five-hour sightseeing trips in pressurized capsules lifted by helium balloons to roughly 40 kilometers. Its June 2024 announcement described a design carrying eight people, including a pilot, with views of Earth’s curvature.
The US expansion builds on EOS-X’s July 2025 purchase of Space Perspective’s assets. A representative of the buyer’s law firm told Travel Weekly, in reporting republished by PhocusWire, that the purchase included technology and intellectual property without assuming the predecessor’s debts or customer contracts.
Space Perspective’s Excelsior capsule had reached about 30 kilometers in an uncrewed September 2024 test, Space.com reported. The predecessor subsequently ran short of cash, furloughed nearly its entire workforce and was evicted from its Florida airport facilities in 2025.
EOS-X’s timetable has shifted since its June 2024 plan to begin flights in Seville and Abu Dhabi around the third quarter of 2025. Founder and CEO Kemel Kharbachi now expects the first commercial flights to use a US capsule, with Spanish flights starting in 2027, according to Tech Funding News.