Axiom Space raises $350m Series-C towards commercial space station

Author: EIS Release Date: Sep 4, 2023

Axiom Space, the in-orbit infrastructure specialist, has secured $350m in its Series-C round of funding, to help build the first commercial space station from the legacy of the International Space Station.

 

Axiom Space raises $350m Series-C towards building commercial space station

 

The company says it has now raised $505 million in total from investors. The round was lead by Saudi Arabia-based Aljazira Capital and South Korea-based-Boryung.

 

“We believe in the importance of innovation in various sectors and across various markets,” said Naif AlMesned, CEO and managing director of Aljazira Capital (pictured). “In line with the Saudi Vision 2030’s transformative approach, we acknowledge the need for technology toward the advancement of human life. To that end, we are excited to support Axiom Space along its journey of building for beyond.”

 

Boryung, a healthcare and pharmaceutical manufacturing company interested in a space healthcare ecosystem, added:

 

 

“We recognize the depth of human spaceflight knowledge and the level of space station construction and management experience at Axiom Space, as well as the sophistication of the company’s sales and business strategy,” said Jay Kim, Chairman of Boryung.

 

The Houston-based Axiom was founded in 2016 by its CEO and president Michael Suffredini (pictured) and Kam Ghaffarian, the Executive Chairman.

 

 

“We are honored to team with investors like Aljazira Capital, Boryung and others, who are committed to realizing the Axiom Space vision,” said Suffredini.

 

“Together, we are working to serve innovators in medicine, materials science, and on-orbit infrastructure who represent billions of dollars in demand over the coming decade. We are building on the legacy of the International Space Station, leveraging the pillars that were constructed in low-Earth orbit more than two decades ago, to now support a burgeoning global space economy.”

 

The company has $2.2 billion in customer contracts. This includes a long-term NASA contract, worth $1.26 billion, to provide Exploration Extravehicular Activity Services (xEVAS) spacesuits for the Moon and LEO. Guaranteed payments from these task orders total about $370 million, increasing with each new task order received.