Axiom Space secures $350m in Series C for world’s first commercial space station

Axiom Space, a Houston-based space infrastructure developer, has clinched a whopping $350 million in its Series C funding round, catapulting its total funds amassed to an impressive $505 million. With a robust backing from high-profile investors like Aljazira Capital and Boryung Co., Ltd., and other prominent deep-tech venture capital funds and strategic partners, Axiom Space has etched its name as 2023’s second-highest money-raiser in the private space sector, trailing only SpaceX, as per recent pitchbook data.

Axiom Space’s vision has garnered significant traction, with the company reporting over $2.2 billion in customer contracts. Michael Suffredini, the CEO and president of Axiom Space, expressed gratitude for their investors’ faith, emphasizing their collective vision of building on the International Space Station’s legacy and gearing up to foster the burgeoning global space economy.

Aljazira Capital, a dominant financial juggernaut in Saudi Arabia, has a penchant for innovative startups. Their recent alliance with Axiom Space aligns with their objective to bolster technology for human advancement, echoing the Saudi Vision 2030’s transformative ideology. Reflecting on this collaboration, Naif AlMesned, Aljazira Capital’s CEO, highlighted their commitment to fostering technological breakthroughs that make societal impacts.

Axiom Space raises $350m in Series C funding round. Photo courtesy of Axiom Space.

Boryung, a pioneering healthcare investment entity and a recurrent lead investor for Axiom Space, envisions a space healthcare ecosystem that harnesses the unique space environment to spawn groundbreaking Earth technologies. Boryung’s Chairman, Jay Kim, praised Axiom Space’s profound knowledge and unparalleled space station construction prowess, underscoring the synergy between both companies.

Founded in 2016 by industry stalwarts Michael Suffredini and Kam Ghaffarian, Axiom Space boasts an enviable track record, from winning NASA’s coveted port award to securing a $1.26 billion NASA contract for pioneering Exploration Extravehicular Activity Services (xEVAS) spacesuits. This momentum propels them toward their ambitious 2026 launch goal for Axiom Station’s first module, with plans for an independent operation by 2031, post NASA’s ISS retirement.