Axiom Space has raised $350 million in a round of Series C financing led by Aljazira Capital and Boryung and will use the funding to pursue growth initiatives as it builds a commercial space station in low-Earth orbit, dubbed Axiom Station.
The latest round brings the Houston-based space company’s total funds secured from investors to more than $505 million.
Axiom Space said Monday it is working on the first module of Axiom Station and expects it to launch to the International Space Station by 2026.
The company will develop additional modules for Axiom Station, which will eventually separate from the ISS to support customers worldwide by 2031.
Michael Suffredini, president and CEO of Axiom Space, said the company is working to support innovators in on-orbit infrastructure, medicine and materials science and is building on the orbiting laboratory’s legacy in support of a flourishing space economy.
The company noted that it has secured customer contracts worth more than $2.2 billion combined.
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