Axiom Space, Inc., which is developing the world's first commercial space station, has raised $130 million in Series B funding. The round was led by C5 Capital and includes TQS Advisors, Declaration Partners (the investment firm backed by David M. Rubenstein), Moelis Dynasty Investments, Washington University in St. Louis, The Venture Collective, Aidenlair Capital, Hemisphere Ventures, and Starbridge Venture Capital.
The new financing will accelerate the growth of Axiom's workforce and construction of its privately developed space station. The Axiom Station will serve as the central pillar of a network of commerce in Earth's orbit, a linchpin of a space economy that Bank of America and Morgan Stanley both reportedly project could be valued at more than $1 trillion in the next few decades.
"Axiom Space is a force in the space sector, and it will become a centerpiece of the C5 Capital portfolio and enhance our vision for a secure global future," said Rob Meyerson, C5 operating partner, who will join the Axiom board of directors. "The Axiom Station will be the infrastructure upon which we will build many new businesses in space, and it will serve as the foundation for future exploration missions to the moon, Mars, and beyond."
In January 2020, NASA selected Axiom to begin attaching its own space station modules to the International Space Station (ISS) as early as 2024, marking the company as a primary driver of NASA's broad strategy to commercialize low Earth orbit (LEO). While in its assembly phase, Axiom Station will increase the current usable and habitable volume on ISS and provide expanded research opportunities. By late 2028, Axiom Station will be ready to detach when the ISS is decommissioned and operate independently as its privately owned successor.
In January 2021, Axiom revealed its first private astronaut crew. Planned to fly to the ISS no earlier than January 2022, the crew of Axiom Mission 1 (Ax-1) reportedly intend to promote their philanthropic endeavors and conduct scientific research on behalf of organizations they support.
"Axiom Space was founded on the knowledge that commercial infrastructure and innovation in space would offer unique ways to improve life on Earth," said Kam Ghaffarian, Axiom co-founder and executive chairman. "Axiom's sole-selection by NASA to connect to ISS and ability to leverage its key revenue lines are evidence of the company's expertise and a business model that is set up to optimize across a variety of commercial on-orbit opportunities. This highly successful round is a pivotal moment for on-orbit commerce and its implications for our civilization's potential are far-reaching."
"We are proud to partner with Axiom's exceptional management team, who built, led, and visited the International Space Station on behalf of NASA and its partners," said Brian Stern, a partner at Declaration Partners. "The next-generation space station we are building today will be a key means of conducting space-based research, manufacturing, communication, and travel for decades to come."
To learn more, visit www.axiomspace.com.