Venture Capital: Axiom Space Raises $350M For Its Commercial Space Station

August 22, 2023 | News, Venture Capital

Axiom Space has become the second-highest funded private space company in 2023, trailing only behind SpaceX.

Houston-based space company Axiom Space has successfully concluded its Series-C funding round, raising $350 million. This latest investment brings the company’s total funds raised to over $505 million, in addition to securing customer contracts exceeding $2.2 billion. The funding round was primarily led by Aljazira Capital and Boryung Co., Ltd., with participation from various venture capital funds and strategic brand partners.

This places Axiom Space as the second-highest funded private space company in 2023, trailing only behind SpaceX.

Axiom Space, led by CEO Michael Suffredini, aims to develop the world’s first commercial space station, known as Axiom Station. The company’s vision is to foster innovation in areas such as medicine, materials science, and on-orbit infrastructure, with a focus on supporting the burgeoning global space economy.

Aljazira Capital, based in Saudi Arabia, is committed to investing in innovative startup companies across various sectors. The company’s CEO, Naif AlMesned, emphasized the importance of technology and innovation in advancing human life, aligning with Saudi Vision 2030’s transformative goals.

Boryung, a healthcare investment company, sees Axiom Station as a platform to establish a space healthcare ecosystem and develop new technologies that can benefit Earth. Jay Kim, Boryung Chairman, appreciated Axiom Space’s expertise in human spaceflight and its strong business strategy.

Axiom Space was founded in 2016 by Michael Suffredini and Kam Ghaffarian. The company has already achieved significant milestones, including winning NASA’s port award for attaching its first commercial space station module to the International Space Station (ISS).

Axiom Space has also secured a long-term NASA contract worth $1.26 billion for providing Exploration Extravehicular Activity Services (xEVAS) spacesuits.

Axiom Station’s first module is currently under construction, with plans for launch to the ISS by 2026. The company envisions a complete Axiom Station operational by 2031, offering independent support to customers worldwide, coinciding with NASA’s plan to retire the ISS.

Axiom Space’s mission is to create a thriving space habitat that benefits humanity on Earth and beyond.

Related Story: Space Debris Remover ClearSpace Lands €26.7m Series A

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