Axiom Space announced it has raised 350 million dollars in its financing round, which brings the total amount that it has raised to more than $55 million in investment from potential investors. It has also exceeded $2200 million in agreements with its clients.
At present, Aljazira Capital and Boryung lead the fundraising round with the backing of investors, including high-tech venture capital funds as well as strategic brand allies. This puts Axiom Space in second place behind SpaceX with regards to the amount of capital raised by a private space firm by 2023, based on information available through PitchBook.
“We are honored to collaborate with investors such as Aljazira Capital, Boryung, and others who have committed to the goals of Axiom Space,” said Michael Suffredini, CEO and President at Axiom Space. Together, we’re collaborating to help the world’s most creative innovators in medical research, material science, space, and orbit infrastructure. These are expected to generate billions that will be needed for the next 10 years. We’re building on the achievements of the International Space Station, building upon the foundations set in low-Earth orbit over 20 years ago. We are able to support the rising global economy in space.”
Aljazira Capital, one of the most prominent financial companies within Saudi Arabia, has been progressing significantly in the world of investment, particularly in the field of innovative start-up businesses across a variety of sectors. Naif AlMesned, the Chief Executive Officer and Managing Director at Aljazira Capital, said that “we believe in the significance of innovation across various industries and markets. As part of the transformational method for Saudi Vision 2030, we acknowledge the necessity of technologies that can improve the human condition. We are thrilled to help Axiom Space in its quest to build a better future than Aljazira Capital highlighted its deep desire to advance technology and its promotion of the development of new technologies in different markets. His portfolio comprises investments in numerous exciting tech-driven businesses, with a particular emphasis on helping businesses have a positive impact on society.
Boryung, the health investment firm and leading company within Axiom Space, is working to build a health environment that can support long-term missions of humans in space and utilize the environment of space to invent new technology within the land. According to Jay Kim, president of Boryung, Axiom Station is the best platform to develop this kind of technology. “We acknowledge the extensive knowledge of space flight by humans and the quality of the space station’s building and management capabilities at Axiom Space, along with the precision of their commercial and sales strategy,” Kim said. “We have a common philosophy and vision. We are both looking forward to collaborating on opportunities.”
Alongside forming partnerships with strategic partners, Axiom Space’s commercial operations are incredibly profitable. Axiom Space not only received the NASA port prize but was the only company in space to launch its very first commercial space station to the ISS as well as secure an extended contract with NASA that is worth $1,260 million dollars for extravehicular activity suits (xEVAS) to LEO and the Moon. Moon as well as LEO. These guaranteed payments resulting from these work orders amount to about $370 million. This amount increases every time a new order is placed.
The initial Axiom Station Module is in development and will be launched onto the ISS in 2026. The next modules will be added to the complete Axiom Station. It is expected to be able to separate from the ISS and run on its own, serving customers across the globe. the world by 2031, at which point NASA is planning to end the ISS.
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