Axiom Space raises $350 million from Saudi and Korean investors

on Aug22
by | Comments Off on Axiom Space raises $350 million from Saudi and Korean investors |

Chief Engineer Jim Stein wears the new spacesuit during the Axiom Space Artemis III Lunar Spacesuit event at Space Center Houston in Houston, Texas, on March 15, 2023. – “Since a spacesuit worn on the Moon must be white to reflect heat and protect astronauts from extreme high temperatures, a cover layer is currently being used for display purposes only to conceal the suits proprietary design, ” Axion said in a press release.

Mark Felix | Afp | Getty Images

Space company Axiom raised $350 million in a round that was led by Saudi-owned Aljazira Capital and Korean health-care investment firm Boryung, the company announced Monday.

Houston-based Axiom trains and flies both private and government astronauts on missions to the International Space Station via launches with SpaceX. It’s developing human spaceflight technologies including a commercial space station and a lunar spacesuit.

Sign up here to receive weekly editions of CNBC’s Investing in Space newsletter.

The company said the investment will further its development efforts. It has more than $2 billion in customer contracts to date, Axiom said Monday. It’s flown two crews to the ISS, including the recently completed Ax-2 mission, and is working to launch its first space station module by 2026.

In a statement, Aljazira Capital managing director and CEO Naif Almesned said backing Axiom is “in line with the Saudi Vision 2030’s transformative approach.”

NASA's $3.5 billion contract has it renting its next-generation spacesuits


Previous postCould U.S. Toughness on Chinese Business Have Unintended Consequences? Next postWhat it means for IPO market, SoftBank


Los Angeles Financial times


Copyright © 2024 Los Angeles Financial times

Updates via RSS
or Email