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Axiom Space closes $350M Series C as space projects continue

By Jishnu Nair - Reporter
August 21, 2023, 01:16pm CDT

Houston-based space company Axiom Space closed a $350 million funding round as it prepares to launch one of its biggest commercial space projects in 2026.

The Series C round was led by the Saudi Arabia-based firm Aljazira Capital and South Korea-based Boryung Ltd., Axiom said Aug. 21. This funding takes Axiom’s total raised to $505 million, which the company said is second only to California-based SpaceX among private space companies, citing data from Pitchbook.

Axiom did not disclose what the funding would be used for in its announcement but confirmed it plans to launch the first module of its Axiom Station project in 2026. The project will create a commercial free-flying space station, which will initially be attached to the International Space Station until the planned retirement of the ISS in 2031. Axiom Space is currently building its Houston Spaceport headquarters, which will be used to produce the Axiom Station.

Houston Inno reached out for further details from Axiom Space on the use of its funding.