Placeholder canvas
Thursday, April 18, 2024
HomeBusinessAxiom Space secures $350 million investment from Saudi and Korean backers.

Axiom Space secures $350 million investment from Saudi and Korean backers.

Space company Axiom has successfully raised $350 million in a funding round led by Saudi-owned Aljazira Capital and Korean healthcare investment firm Boryung. Axiom, based in Houston, focuses on training and launching private and government astronauts to the International Space Station (ISS) using SpaceX launches. The company also develops other human spaceflight technologies such as a commercial space station and a lunar spacesuit. Axiom plans to utilize the investment to further its development efforts, especially as it has already secured over $2 billion in customer contracts to date. It has successfully flown two crews to the ISS and aims to launch its first space station module by 2026.

The backing from Aljazira Capital and Boryung aligns with the Saudi Vision 2030’s transformative approach, according to Aljazira Capital CEO and managing director Naif Almesned. Axiom’s sustained success in securing large contracts and its achievements in launching crews to the ISS make it an attractive investment opportunity. The company’s focus on commercial space travel and its plans for a lunar spacesuit have positioned it as a key player in the space industry. Axiom’s technological advancements and strategic partnerships, such as the collaboration with SpaceX, demonstrate its commitment to pushing the boundaries of human space exploration.

With the funding in place, Axiom is poised to further accelerate its development and expansion plans. Its goal of launching a commercial space station module by 2026 indicates its intent to compete with other space exploration companies. This investment not only strengthens Axiom’s financial position but also emphasizes the growing interest and investment in the space industry as a whole. As space travel becomes increasingly commercialized, the advancements made by companies like Axiom pave the way for further exploration and potentially open up new opportunities for space tourism and scientific research.

Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments