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Commercial space station company, Axiom Space, has successfully raised 0 million in its Series-C round of growth funding. The funding came from Saudi financier, Aljazira Capital, and existing investor, Boryung, a Korean pharmaceutical manufacturer. Axiom Space also reported signing more than .2 billion in customer contracts.

Axiom Space was founded in 2016 by Michael Suffredini and Kam Ghaffarian, who have also founded other companies such as Intuitive Machines, Quantum Space, and X-Energy. The company has ambitious plans to build a module for the International Space Station (ISS), which is set to launch to the ISS by 2026. In addition to this module, Axiom Space plans to launch additional modules and eventually separate from the ISS to operate independently. NASA plans to retire the ISS in 2031.

The company has already secured a NASA port award to attach its commercial space station module to the ISS. Furthermore, they have a long-term NASA contract worth .26 billion to provide Exploration Extravehicular Activity Services (xEVAS) spacesuits for missions to the Moon and Low-Earth Orbit (LEO).

Axiom Space aims to cater to various sectors in the space industry, including medicine, materials science, and on-orbit infrastructure. The company sees a significant demand for its services over the next decade, amounting to billions of dollars. According to Axiom Space CEO Michael Suffredini, they are building on the legacy of the International Space Station and leveraging the existing infrastructure to support a growing global space economy.

The recent funding and contract signings highlight the company’s progress in its mission to establish a commercial presence in space. With a substantial influx of capital and a strong pipeline of contracts, Axiom Space is well-positioned for future success in the space industry.

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