Riyadh - Sharikat Mubasher: The Saudi Aljazira Capital company and South Korean healthcare firm Boryung led a $350mn-funding round raised by Axiom Space, the American space infrastructure developer, the latter announced in a statement.
Axiom Space stated that the secured $350 million-funding comes as part of its Series-C round of growth funding, lifting the total funds raised to over $505 million from investors and achieving more than $2.2 billion in customer contracts. These investments are dedicated to continue building world’s first commercial space station ‘Axiom Station’.
“We are honored to team with investors like Aljazira Capital, Boryung and others, who are committed to realizing the Axiom Space vision,” the President and CEO of Axiom Space, Michael Suffredini stated, adding: “Together, we are working to serve innovators in medicine, materials science, and on-orbit infrastructure who represent billions of dollars in demand over the coming decade. 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.”
As per the statement, the Saudi and Korean investors led the funding raise with participation of deep-tech venture capital funds and strategic brand partners. The company further elaborated that this fund-raising positioned Axiom Space as second to SpaceX for the most amount of money raised by a private space company in 2023, based on available pitchbook data.
From his part, Naif AlMesned, CEO and Managing Director of Aljazira Capital, expressed his pleasure saying: “We believe in the importance of innovation in various sectors and across various markets. In line with the Saudi Vision 2030’s transformative approach, we acknowledge the need for technology toward the advancement of human life. To that end, we are excited to support Axiom Space along its journey of building for beyond.”
The participation of Aljazira Capital highlights the company’s interest in advancing new technologies and fostering innovation in diverse markets, the statement noted.
Moreover, the Chairman of Boryung, Jay Kim, described Axiom Station as the preeminent platform for this type of development adding: “We recognize the depth of human spaceflight knowledge and the level of space station construction and management experience at Axiom Space, as well as the sophistication of the company’s sales and business strategy,” Kim said. “We have a shared vision and ethos and are excited to build opportunity together.”
Axiom Space operates end-to-end missions to the International Space Station, while developing its Axiom Station, world’s first commercial space station in low-Earth orbit, that will sustain human growth off the planet and bring untold benefits back home.
