- Axiom Space has successfully raised $350 million in its Series-C growth funding round, bringing its total funds raised to over $505 million. The company has also reported more than $2.2 billion in customer contracts.
- Major investors in this funding round include Aljazira Capital and Boryung Co., Ltd. Axiom Space is now positioned as the second-highest funded private space company in 2023, following SpaceX. The company is actively developing the Axiom Station, with plans for its first module to launch to the ISS by 2026.
HOUSTON, August 21, 2023 – Axiom Space, a frontrunner in human spaceflight services, announced today its successful procurement of $350 million in its Series-C growth funding round. This latest capital influx brings the company’s total funds raised to an impressive sum of over $505 million. Furthermore, Axiom Space has reported more than $2.2 billion in customer contracts.
The funding round saw significant investments from Aljazira Capital and Boryung Co., Ltd. These major contributors were accompanied by a diverse set of backers, including deep-tech venture capital funds and strategic brand partners. With this financial boost, Axiom Space now stands second only to SpaceX in terms of funds raised by a private space company in 2023, as per available pitchbook data.
Axiom Space’s CEO and president, Michael Suffredini, expressed his gratitude towards their investors, remarking, “We are honored to team with investors like Aljazira Capital, Boryung, and others, who are committed to realizing the Axiom Space vision.” He further highlighted the company’s mission to cater to innovators across various sectors, such as medicine, materials science, and on-orbit infrastructure. Building on the legacy of the International Space Station (ISS), Axiom Space is poised to support the burgeoning global space economy.
Aljazira Capital, a dominant financial entity in Saudi Arabia, has a track record of investing in innovative startups spanning multiple sectors. Naif AlMesned, the CEO and managing director of Aljazira Capital, emphasized the firm’s dedication to innovation, aligning with the objectives of Saudi Vision 2030. Aljazira Capital’s diverse investment portfolio underscores its commitment to fostering new technologies that have a transformative impact on society.
Boryung, a healthcare investment firm and a recurrent lead investor in Axiom Space, envisions establishing a space healthcare ecosystem. This system aims to support prolonged human space missions and harness the space environment to pioneer innovative technological solutions on Earth. Boryung Chairman, Jay Kim, lauded Axiom Space’s expertise and expressed enthusiasm about their shared vision for the future.
Established in 2016 by Michael Suffredini and Kam Ghaffarian, Axiom Space has forged robust strategic partnerships and expanded its business footprint. The company has not only clinched NASA’s port award, permitting it to attach its inaugural commercial space station module to the ISS, but has also secured a long-term NASA contract valued at $1.26 billion. This contract is for the provision of Exploration Extravehicular Activity Services (xEVAS) spacesuits for missions to the Moon and in low-Earth orbit.
The first module of the Axiom Station is in the construction phase and is slated for launch to the ISS by 2026. Subsequent modules will be integrated to complete the Axiom Station, which is projected to operate autonomously by 2031, aligning with NASA’s timeline to retire the ISS.
Axiom Space harbors a vision of a thriving human habitat in space, aiming to benefit all of humanity. Presently, the company facilitates missions to the ISS and is in the advanced stages of developing the Axiom Station, poised to be the world’s premier commercial space station in low-Earth orbit.
