Axiom Space raised a $350M Series C round to support growth, the company announced yesterday. The round takes Axiom’s total funding to more than $505M, the company said in a statement.
“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,” Axiom chief executive Michael Suffredini said.
Axiom’s business model: The human spaceflight company has three distinct lines of business:
- Coordinating government and private tourism trips to the ISS, in partnership with SpaceX and NASA.
- Supplying lunar xEVAS (Exploration Extravehicular Activity Services) spacesuits for NASA.
- Building a commercial space station that will append to the ISS starting in 2026 and eventually break off into its own independent habitat.
The company has secured over $2.2B in customer contracts.
International funding: The round was led by Saudi investment firm Aljazira Capital and Korean healthcare investors Boryung. Boryung has anchored multiple Axiom rounds, viewing its commercial space station as an opportunity to support the development of next-gen healthcare technologies.
Correction: Payload eliminated, “establishing it as the second most well-capitalized space startup after SpaceX” as it was an Axiom statement that could not be independently verified by Payload.